Articles posted by "Integrity Software"

Is now the time for changes to retentions?

Is now the time for changes to retentions?

In this resource, we look at the issues that the Retentions Bill hopes to solve, and look at its levels of support and progress through parliament.

21st August 2018 published by Integrity Software

Retentions in construction involve clients or contractors holding back a percentage of payments due to their contractors and subcontractors to ensure that work is properly completed. This cash (usually 5% of the overall payment) is withheld so that work meets agreed standard, and that contractors return to correct any defects that arise within a certain period (usually 6-12 months) after the project is complete. In theory, retentions sound like a reasonable and proportionate approach for clients and contractors looking to reduce risk and ensure contractors are incentivised to complete work to the required standard. In practice, however, retentions have become something of a nightmare for contractors and subcontractors alike. The industry has been aware of the problem for some time, and in recent years, parliament has begun to recognise the issue. A bill looking to deal with the problem was first introduced in 2017, but was shelved because of the general election. Now a new bill is maki… Read more
BIM for Beginners: Everything You Need to Know

BIM for Beginners: Everything You Need to Know

Building Information Modelling (BIM) is already bringing significant changes to the global construction industry, yet adoption rates vary hugely. Read more

Making Tax Digital: What Construction businesses need to know

Making Tax Digital: What Construction businesses need to know

Making Tax Digital is the UK government’s latest move to modernise the tax system for businesses and individuals alike. Read more

GDPR in Construction: What You Need to Know

GDPR in Construction: What You Need to Know

If your business stores or processes any kind of personal data of EU citizens (names, contact details, addresses and so on), you’ll need to comply. Almost every construction company will process client, supplier, and employee data, so you’ll almost certainly be affected. Read more