Construction Accountants in Kent
Accounting Solutions for the Property and Construction Industry. We're committed to guiding construction businesses in Kent with our specialist accounting expertise.
Understanding Construction Accounting in Kent
The construction industry faces unique accounting and financial challenges. Recent changes, such as the VAT domestic reverse charge introduced in March 2021, Making Tax Digital for tax returns, and specific requirements under the Construction Industry Scheme (CIS), underscore the importance of having an accountant who grasps these changes.
The sector's need to adapt quickly to economic shifts, manage cash flow and maintain efficiency is more crucial than ever for planning and executing projects successfully.
Navigating the Construction Industry Scheme (CIS) for Kent Based Businesses
The CIS applies to a wide range of construction work. Contractors in the industry must register for the scheme and comply with HMRC's payment regulations. While subcontractors are not required to register, unregistered individuals face higher deduction rates from their payments. Our deep understanding of the construction sector means we're perfectly positioned to advise on CIS compliance, optimizing your business decisions and enhancing profitability, even through challenging times.
Managing Work-In-Progress (WIP)
WIP represents the value of incomplete projects that haven't been invoiced. For instance, a project halfway to completion with a total value of £20,000 has a WIP of £10,000. Navigating WIP and associated costs requires specialised knowledge. Soldi Partners seasoned construction accountants are here to recommend the most efficient approaches and how to minimise tax liability.
Building a Strong Financial Foundation
Our dedicated team based in Gravesend Kent offers strategic advice on business structure, cash flow optimisation, tax planning and adherence to both new and existing accounting regulations. We are committed to the smooth operation and financial success of your construction or property business, guiding you through the regulatory maze to ensure continuous growth.
Contact Us
Ready to build a stronger financial future for your construction business in Kent? Reach out to us for professional, approachable and jargon-free advice.
Find Us: 53 Bath Street,Gravesend, Kent. DA11 0DF
Email Us: hello@soldipartners.co.uk
Call Our Head Office: 01474 537333