We can guide you through this specialised field enabling you project profitability and overall financial stability
At Pointon Young we are experts in property and construction and work across both residential and commercial property sector and can provide advice on taxation, legislative and contracting issues that occur.
Accounting within the construction industry differs from traditional business accounting to include:
- Project based operations: specific requirements, timelines and locations for each project
- Long term contracts: projects can span months/years therefore gaps between expenses and revenue collection
- Variable costs: fluctuating costs of labour and materials, specific location of the project
- Complex compliance: specific regulations including CIS and domestic VAT reverse charge
We can provide tracking, recording and analysing all financial transactions relating to owning, managing or investing in property.
Our Team can help you with:
- Business tax guidance
- Job costing – to assess profitability and inform future bids
- Cash Flow Management – a critical challenge, we can help forecast and ensure liquidity
- Revenue recognition: recognising revenue over time
- Compliance with CIS
- Contract retainage: we can advise and manage to avoid cash flow issues
There can be numerous trades involved in construction, which include:
Bricklayers
Carpenters
Demolition and dismanting
Electricians
Groundworkers
Plumbers