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Building & Construction Accountants

Having an expert construction accountant is essential to the success of your business. The construction industry has some unique accountancy and tax requirements. At Friend & Grant, our team of expert advisers will get to know your business to optimise cash flow and give advice on structure, planning and profitability.

Our current building and construction clients range from contractors and tradespeople to family-owned businesses and large construction firms. Our team of experts can help you to protect your business and keep on top of the industry’s common requirements.

As specialist accountants for construction, Friend & Grant will help you take care of the following;

  • Structuring — we will help you to find the perfect structure for your business.
  • Tax efficiency & VAT legislation — our tax team will proactively find ways that you can save tax including advice on CIS (Construction Industry Scheme).
  • Audit — the many variables of auditing of a building and construction company requires an expert eye,
  • Project accounting — with various projects and costs associated with them, it is imperative to complete individual project accounting correctly.

How Can I Protect My Construction Business?

Take a look at our video on how to protect your construction business. This video includes the seven actions all construction business owners need to take to protect businesses.  These steps include;

1) Cash flow management — monitor the cash, give your business time to grow.

2) Pricing & contracts — price right and make sure you understand all the terms of your contract.

3) Quality & reputation — excellence in everything you do.

4) Your team and management style — don’t be dictatorial, get your team right.

5) Your business structure — set up more than one company and ring-fence, high-risk activities

6) Growing too fast — don’t take on too much work, get the financing right.

7) Good record-keeping — keep the records straight to avoid problems with HMRC.

How can I protect my construction business? Thumbnail

The four main takeaways from this video are;

  1. Build a great legal structure.
  2. Avoid giving customers too much credit and monitor customer credit rating.
  3. Keep your books in order.
  4. Don’t run before you can walk! Be cautious with spending and keep checking cash flow.

Having an expert building and construction accountant who deals with hundreds of construction-related businesses and understands the construction industry is essential to the growth of your business. Contact us today for a 60-minute Discovery Meeting to assess your business needs.

Asbestos First Ltd R&D Tax Credits Case Study
Debbie Hales

Debbie Hales from Asbestos First Ltd, talked to us about her experience in claiming Research & Development (R&D) Tax Credits from HMRC with our help. Here’s Debbie’s story….

“As a business we’ve recently transferred our accounting services to Friend & Grant and within 3 months of engaging with them they had helped me secure £13,000 in corporate tax savings by making a Research & Development tax credits claim.”

“My previous accountant had not mentioned anything about R&D tax credits and so we’d lost out on thousands of pounds! How I wish I’d known about this brilliant tax scheme years ago as we’re been developing innovative solutions in our business for years.”

“Mark talked about R&D at one of our very first meetings. He explained what they were and how they worked.”

“Whilst I knew it would be a little extra work to get the numbers together I knew that it would be worth it, so we jumped in.”

“First of all Slava came to see me, so I could show and explain to him what we do. He asked lots of questions so that he really understood our work.”

“We’d recognised that off the shelf ERP (Enterprise Resource Planning) technology for the hazardous waste management industry wasn’t up to scratch. The legacy software couldn’t cope with planning, tracking and processing customer interactions neither could it be integrated into the regulatory bodies’ systems. So we had to design our own bespoke software to solve the problem.”

“Part of the development involved taking an off-the-shelf framework application that was capable of processing the datasets and developing this further to allow the integration into the wider systems architecture.”

“We’ve also developed a responsive interface for the ERP software making sure the compatibility of data between the old software and the new systems and allowing this to be synchronised with regulatory bodies systems. We were even able to claim for part of the project that had failed to deliver a result.”

“This was challenging. Extensive testing showed very promising progress in tackling these technological uncertainties and the development work continues.”

“Slava said to leave everything to him and a week later I received the project outline from him. He prepared the claim which was accepted by HMRC and a few weeks later we received a corporation tax saving of £13,000 for the year to 2017.”

“As the development work continues we’ll be submitting a further claim to cover this year’s R&D work.”

Debbie said “This is a great initiative by HMRC to help smaller businesses invest in essential R&D. Our development was essential, but knowing that the R&D scheme is available it will help us to pursue new R&D with more confidence.”

If you’ve had to work to solve a problem in your company then talk to your client manager or give Friend & Grant a call on (01634) 731390 and we’ll see if we can help you too. For anything to do with asbestos and preferably nothing else contact Debbie Hales. www.asbestos.ltd

Neil Mills
N Mills Brickwork Ltd Hempstead

Having been with Friend & Grant for the past 15 years or so I have found that they provide a friendly and professional service that has helped me move from a sole trader to limited company through good economic times and bad times.  I would recommend Friend & Grant to any company big or small.

Our 3 step risk-free guarantee puts your mind at rest and keeps us on our toes!

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Bryant House - Friend and Grant Chartered Acocuntants and Tax Advisors

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Are you hungry for success? If you run a small to medium size business and you want to grow your sales, increase profitability and pay less tax then you have come to the right place.