Construction & Real Estate Accountants
Construction and Real Estate encompasses a wide range of businesses and is one of the UK’s largest sectors. It is also a volatile sector, fast-changing tax rules combined with general economic uncertainty continue to have an impact on the sector.
Alexander & Co’s detailed knowledge and understanding of this sector, together with our expert tax and accountancy skills ideally place us to add real value to the clients we advise clients in this sector.
Advising your business
We advise a wide range of clients in this sector, including commercial and residential developers, contractors, sub-contractors, owners, construction companies, civil engineers, surveyors and professional services firms as well as sector-dependent clients. With a detailed understanding of industry-specific issues, we provide a wide range of specialist services from business strategy and corporate finance to accountancy and strategic tax advice.
The Domestic Reverse Charge for building and construction services is scheduled to be introduced on 1 October 2020, which will affect how companies charge and are billed for VAT. Originally scheduled for 1 October 2019, this will impact a wide range of companies across the sector, where early preparation is key. We are well equipped to advise businesses who need to review their arrangements with customers and suppliers.
Services we regularly provide for construction and real estate companies include:
There are several tax issues that are impacting construction companies more than other sectors. Continued UK market uncertainty is affecting workforce availability and specific tax requirements such as CIS, which we regularly deal with is an industry-specific issue requiring clear guidance.
The proposed changes to IR35 off-payroll working rules are particularly relevant to the construction industry because of the high proportion of self-employment in the sector. This has the potential to significantly impact many construction companies, who may find themselves liable for self-employed contractors’ tax and National Insurance. Whilst IR35 off-payroll working rules are currently under review (albeit just to determine if further steps can be taken to ensure the smooth and successful implementation of the reforms in April 2020 and to assess whether any additional support is needed to ensure that the self-employed, who are not in scope of the rules, are not impacted) the April 2020 implementation is still scheduled to go ahead as planned.
Working across a wide range of professional services, including architects, estate agents, planners and surveyors, we frequently provide advice on company reorganisation, to ensure firms are structured in the most tax-efficient way. We also provide strategic advice on succession planning and exit planning as well as mergers and acquisitions.
Property development companies
With decreasing profit margins across much of the industry, we frequently advise developers on tax-efficient strategies to minimise costs and increase revenue. Providing accurate financial information and forecasting also allows our clients to budget and plan more effectively.
We often work with developers to utilise available tax reliefs, including capital allowances and research and development Tax Relief (R&D) which is regularly being obtained for modern methods of construction.
Land Remediation Relief is a generous tax relief pertinent to developers that provides a deduction of up to 150% for qualifying expenditure incurred by companies in cleaning up land acquired from a third party in a contaminated state.
Contact our team
Alexander & Co can assist with any such claims to ensure you are taking advantage of all available reliefs.
For more information, call us on 0161 832 4841 or email firstname.lastname@example.org and one of our accountants will be in touch.