Construction Accountants

We are accountants who specialise in working with businesses within the construction industry. All of our team have experience working with construction and trade businesses just like yours.

From large company contractors to subcontractors, tradesmen, and professional developers; we know the construction industry inside-out and know what is required in order to grow.

Many businesses in the construction sector don’t have access to quality management information, so at Empowered by Cloud, we set out to provide them with the right knowledge and know how in order to have a clearer vision for their business.

As specialist construction accountants, we have years of combined experience in bookkeeping, payroll, pricing, profitability, job costing, cashflow forecasting and automation, and can provide valuable up to date advice on the complexities of current legislations.

construction industry accountants

Empowered by Cloud - Specialist Construction Accountants

At Empowered by Cloud, we are the opposite of normal accountants…we are informal accountants who care about you and your business.

If you are someone who prefers to put their head in the clouds when it comes to business finances, then you will be pleased to hear that we do too! We use an automated cloud based accounting software, so that your business books are kept online.

Helping you to run your construction business digitally means that you have access to all your financial data at the touch of your fingertips anytime, anywhere, and from any device. And we can access them too, enabling us (as your trusted accountants) to provide you with in-depth financial insights into what makes your construction company profitable, and what may be holding it back.

And the good news doesn’t stop there. When you choose Empowered by Cloud, our specialist team of accountants will become your virtual finance department, helping you to set up your accounting software and providing you with tips and tricks on how to use it.

After all, we know that things can always be done better. We are always looking for better alternatives, in order to get better results.

So now you can keep your head in the clouds, safe in the knowledge that you have an up-to-date picture of how your construction business is performing.

Why should you use Empowered by Cloud for your construction business?

As a business owner, tradesman, sub contractor or developer, you shouldn’t be spending hours every day managing your finances. Instead let our expert accountants focus on your numbers, whilst you focus on what you do best…running a successful business!

Experts in Xero, an innovative online accounting solution, we have years of experience working with clients in the construction industry. In fact you could say that together we are the perfect business match.

Always on hand to add value, we can provide you with financial insights so that you have a clear understanding of where your money may be being lost and which areas of your construction business are the most profitable.

At Empowered by Cloud we are here for the long term – not just one transaction. We provide a plan for our clients so that you know where your business is at, and most importantly what direction it’s going.

So what are you waiting for! If you are looking for an accountant that won’t bamboozle you with financial jargon, just plain English that simplifies the accounting process for you, then get in touch with us today!

Use Empowered by Cloud for your construction business

Types of construction companies and industries we work with and help grow

We work with a variety of business types within the construction industry, helping them build towards a prosperous future.

What construction accounting services are included?

The construction accounting industry is complex and comes with a host of different and unique challenges. We help companies in the construction sector with their tax responsibilities, expenses, HMRC’s Construction Industry Scheme, and so much more.

At Empowered by Cloud we work with businesses to deliver an accurate and efficient credit control service, and help to manage the invoicing and outstanding payment process.

As there is no one-size fits all service, we offer bespoke scalable plans to suit you and your business. Contact us today!

Take a look at just some of the accounting services we offer:-

Annual year end accounts

Based on your online bookkeeping records we will prepare annual and statutory accounts which will form the foundation of your tax return.

VAT

At Empowered by Cloud our accountants will make sure that you are paying the correct amount of VAT. When you move your bookkeeping records online, we will check for errors and inaccuracies and advise you on how you can improve your cash flow and minimise your VAT payments to HMRC.

Payroll

Businesses can outsource their payroll services and leave the tricky task of paying their employees and auto enrolling them into a workplace pension to our in house team of professionals. Ranging from one employee up to large workforces, we offer contractor payroll advice and can assist those in the construction services navigate the legal and regulatory aspects of payroll.

Credit Control

At Empowered by Cloud we work with businesses to deliver an accurate and efficient credit control service, and help to manage the invoicing and outstanding payment process.

Bookkeeping

We offer a range of bookkeeping services such as linking receipts and invoices to Xero, sorting bank reconciliations and supplier statement settlements, scheduling payment dates, filing monthly CIS returns and ensuring that all aged payables and receivables are up to date.

Tax planning and advice

Regardless of whether you are a sole trader, partnership or company, we can deal with your business tax affairs, make sure you are HMRC compliant and help you plan for a more tax-efficient future.

CIS

The Construction Industry Scheme (CIS) has a set of special tax rules for subcontractors who work in the construction industry, and requires deductions from payments to be made in a specific way. In order to ensure that you do not incur penalties by failing to submit your monthly returns to HMRC, we will keep you updated on the latest amendments to the CIS regulations and explain how each change may affect you.

Specialists in Construction Industry Scheme

Construction is our focus meaning we keep up to date with all the relevant knowledge and guidance set out to keep clients compliant. We understand the challenges of the industry and we set out plans and strategies to help businesses grow.

What accounting software do you recommend for my construction company?

At Empowered by Cloud we recommend Xero accounting software, as we believe that it makes difficult business decisions, a little easier.

Xero is an online accounting system that connects small businesses with their trusted advisors and gives them accurate, relevant and real-time visibility into their financial situation.

Xero is a popular choice for those working in construction services, as it keeps track of CIS subcontractors and their CIS deductions and can record, prepare and submit your CIS returns smoothly and efficiently.

You can also submit your VAT return through Xero on a monthly and quarterly basis. It automatically includes any late claims not included in the previous period to ensure that no purchase VAT is missed.

Xero also supports the Domestic Reverse Charge VAT rate that came into effect on 1st March 2021, so that you can be sure that you are being fully compliant with the new rules when recording your subcontractor information and payments.

At Empowered by Cloud we can help you convert to Xero from other online accounting software and can provide tailored Xero training sessions to fit your businesses needs.

Xero accountants for construction industry

FAQs

There is so much that a construction accountant can do for you - from the processing of purchase invoices to preparing and submitting your VAT returns and submitting your CIS returns. A good accountant, however, should do all the above as well as helping you to manage your books, forecast your cashflow and plan for a prosperous future.At Empowered by Cloud we can assist you with your onsite budget so that you can clearly see where any cash shortages may be, keep control of your stock ordered and provide advice on how to manage your business better. We promise to be your virtual finance team.

Whether it is buy to let, building or contracting that you specialise in, you need to ensure that you have access to finances in order to deliver projects that are profitable. You also need to have enough available cash at your disposal to cover any liabilities should they occur.

The construction industry is fast paced and changes are made to legislation frequently so you need to choose an accountancy firm that has an in-depth knowledge of the specific challenges your industry presents.

Accounting in all industries is a difficult task. But when it comes to construction specifically, rather than simply taking records of debits and credits like other businesses would, accountants in the construction industry must use sophisticated accounting solutions (such as Xero) to make sure that a system is in place to match income and expenses accurately.On top of that, construction accountants must be able to run a precise and efficient payroll, to an often transient workforce.Therefore an understand of job costing, tax reporting and simplified accounting software are key to performing the best construction accounting methods.

Get A Free Construction Accounting Consultation Today

Are you ready to feel financially empowered and take the next step towards having your own virtual finance team? If so, then get in touch with Empowered by Cloud today to see how we can help your construction business succeed and grow.

Please complete our contact form:

Leave your details with us and we will be in touch shortly to see how we can help.

This field is for validation purposes and should be left unchanged.