Blog

For contractors not using a construction-specific accounting system, CIS accounting can be a pain. From initially verifying and managing subcontractors before any work is undertaken, through to payroll, and then holding CIS deductions before paying these to HMRC – it can be a laborious process for construction businesses.

Labour has always - and likely will always – be the biggest variable cost on any construction project, and with project margins being squeezed ever tighter, it’s hugely important to monitor all project costs – in particular subcontractor costs.

Whilst the dust has long settled on the introduction of Making Tax Digital for VAT back in April 2019, we are fast approaching the end of the ‘grace’ period as promised by HMRC.

With MTD’s first birthday in April 2020, the grace period will end and businesses will be expected to have a digital link in place.

Dashboards are a brilliant way of displaying key information in a user-friendly, easy to read format. Not only do they ensure that your team have access to crucial information quickly and easily, but they also host a whole raft of other benefits. Read on to find out more.

Managing subcontractors is a vital role in any construction business, so when looking for a system to help manage this process, it's important to ensure it has some key functionality. Read on to explore what you should look for when choosing a subcontractor management system.

Estimated to be worth more than £100 billion, the UK’s construction industry plays a vital role in the UK’s wider economy. Proper financial management is integral to the success of any construction business, and that’s where construction accounting software can help.

For construction businesses who are trying to grow and scale up their operations, there could be one over-looked stumbling block preventing them from getting ahead of their competitors and achieving ambitious growth plans: generic accounting software.

Cost Value Reconciliation (CVR) is an often underused project management tool, but it is a vital component in ensuring construction projects are completed within budget.

HMRC has agreed a one-year delay to the new Reverse Charge VAT legislation which was originally set to be introduced on 1st October 2019. 

A group of trade bodies - including the National Federation of Builders - have urged the chancellor Sajid Javid to postpone the upcoming Reverse Charge VAT changes due to be introduced in October.

It’s expected that more than 150,000 construction business could face a 20% drop in cash flow once they no longer receive the 20% VAT payment on bills they submit, with many trade bodies predicting a cash flow crisis throughout the industry.

Lots of construction companies still use generic accounting software, despite construction-specific software being available which can make construction job costing far simpler to manage. There are lots of benefits to be gained from installing construction accounting software, and yet lots of companies are still using manual and outdated systems.

Explore these 4 reasons why your business should be using construction job costing software:

We are hosting a Breakfast Briefing event with HMRC on Thursday 1st August at etc.venues Victoria in London, to explain the new Reverse Charge VAT rules set to be introduced on 1st October 2019.

New research from the Federation of Master Builders has found that more than two thirds of construction SMEs have not heard of the new Reverse Charge VAT rules being introduced on 1st October 2019.

New homes could soon be built in the south of England by none other than flat pack furniture giant, Ikea.

Here’s what you should look for when assessing potential software providers.

With the dust barely settled from Making Tax Digital, it’s time to turn our attention to HMRC’s next big change. From 1st October 2019 significant changes are being introduced to the VAT treatment of suppliers within the construction industry.

The gender pay gap has gained plenty of coverage recently, thanks to new rules requiring large businesses to report the difference in pay between male and female employees.

2019 is set to be a critical year for the UK economy, with all eyes on the EU exit date of 29th March. At the time of writing, we don’t know whether the UK will be leaving the EU with or without a deal, but what happens on this date will affect the economy, and the construction industry, for the rest of 2019 and beyond.

Last year was another busy year for the UK’s construction industry - and not always in the right ways. For many in the industry, it’s been a year of cautious preparation for changes coming in the new year. But there are plenty of signs for optimism, as we’ll explore in this round-up of the biggest construction news of 2018.

The latest figures from the IHS Markit/CIPS UK Construction PMI exceeded market expectations, showing the strongest pace of expansion in the UK construction industry since July.

Research suggests that the UK construction industry generates over 100 million tonnes of waste each year, accounting for more than half of the country’s total waste.

Going into this year’s budget, expectations were mixed. During the Conservative party conference earlier in the month, Theresa May declared that the austerity of the past eight years was over. But would Philip Hammond loosen the purse strings in his Budget announcement with Brexit looming?

The biggest change to the UK business tax system since real time information is on the horizon, and around a quarter of small businesses haven’t heard of it.