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.
Legislation guides
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… Read more
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 across the UK. While larger businesses are already using BIM on every project, smaller businesses are more wary of this new way of working.
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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.
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.
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Guide to auto-enrolment pension reforms
The auto-enrolment pension reforms require numerous duties from employers. This helpful guide will ensure you’re ready to comply.
CIS; control managing your subcontractors
Can construction accounting software help to keep you and your subcontractors compliant? View our useful guide here to CIS.
Guide to SEPA; Single Euro Payments Area
The SEPA deadline will mean changes to your accounts management software. Discover what’s required in our concise guide.
