Professional Construction Accounting UK
Construction accounting is complicated compared to standard accounting. Fret not! Lancing Cotswold is here to take care of all the issues to help you stay on top of your financial reports while optimising overall project performance.
With Lancing Cotswold, businesses get access to specialist construction accountants in the UK. We provide tailored services for construction accounting UK as per your distinct business needs. We follow a practical, hands-on approach to making construction-related finances as transparent as possible.
Get the construction accounting organised right away with Lancing Cotswold. Get in touch with us to know more about our accounting services and how can we help you save money and time.
Why is construction accounting UK different?
Since the construction industry is distinct, it has its unique financial and accounting needs and onerous tax compliance requirements. However, with quickly changing UK government VAT rules and regulations, there requirements for tax return submissions are high. Getting the Construction Industry Scheme (CIS) deductions wrong can sink a business. Therefore, it is wise to have a professional accountant by your side to submit the monthly Construction Industry Scheme (CIS) returns and VAT returns.
What Does Lancing Cotswold Do?
From job costing to purchase order systems and everyday bookkeeping, we handle all sorts of accounting processes for construction a businesses.
We record all the expenses related to construction and also calculate on a project by project basis to ensure consistent and accurate billing. We will split costs such as labour, types of materials (groundwork, bricks, drylining, plasterboards) all the way to architectural and consultancy fees.
Hence, we help various businesses to meet their financial goals while increasing tax and cost efficiency.
We help businesses meet their financial obligations whilst maximising cost and tax efficiency. With the help of our regular financial reports, businesses can enable better decision-making and planning.
- Construction Bookkeeping
We help businesses streamline financial reports to help them take a glance at whether they are making a profit/loss. They can also easily keep an eye on their performance efficiency.
- Construction Payroll Services
We also help business owners with payroll services if they want to work with contractors. Particularly, we help in saving your resources and time while ensuring you can focus on at-hand construction projects. Hence, you can meet deadlines in the given time frame and further secure future contracts without stressing over financial administration.
Need our construction accounting services? Book a consultation today!
Our other Services
We also offer financial advice on business structuring, profitability, cash flow optimisation, tax planning, and more. We offer a complete range of advisory and support services, like:
- Statutory accounts
- Business plan
- Management accounts
- Tax investigation service
- Tax advisory
- Capital Gains Tax
- Self Assessment
- Payroll Services
- Corporation Tax
- Registered office address
Who Do We Work For?
From sole traders to large construction organizations, we offer our construction accounting services to all types of clients throughout the UK.
Our Work Process Includes:
- Booking a 15-minute consultation
- Choosing an accounting technique
- Choosing your services
- Getting a quote
- Discuss required software options
Our accounting team at Lancing Cotswold helps you pick the appropriate type of accounting as per your construction business requirement. We work with as per the needs of our customers to offer them the best possible services.
Why Choose Lancing Cotswold?
- Dedicated construction accounting UK
We offer dedicated high-level construction accounting services UK to every client. All you need to do is contact our representatives and discuss your business requirements. Further, our construction accountants will work with you closely to meet your requirements.
We keep transparency in our monthly fees which are fixed at a competitive monthly price that's inclusive, without any hidden prices. So, you won't get any surprise bills from our company.
- Skilled & accredited accountants
We have a team of highly skilled and well-accredited accountants by Quickbooks, Xero, etc. It means that your accounting work is in safe hands.
- Latest technology
We utilise the latest technology, including software and apps, to streamline construction accounting processes. It further helps in improving cash flow while becoming highly efficient via automation.
- Value added services
At Lancing Cotswold, we offer value-added services too. We are often looking for ways for improving accountancy services while improving our financial needs. It includes contractor insurance, cash flow indicating software, and other legal services.
Modern Construction Accountants in UK
We are a forward-thinking accounting firm in the UK that has been helping clients for many years now. We offer payroll, EEC, and VAT returns services to our clients in the UK along with year-end accounting.
Need our expert construction accounting service in the UK? Contact us today!
1. What job does the accountant play in the construction industry?
All financial matters inside a business are handled by an accountant, including maintaining and analyzing financial records. To keep their business in good financial status, they might be in charge of tasks like payroll calculation and bank statement reconciliation. Get in touch with expert construction accountants at Lancing Cotswold to help you with the financial issues at your business.
2. What is accounting in the field of construction management?
Construction accounting is a type of accounting where expenses are given to certain construction projects. A particular project is given a specific job number and the same is also set up within accounting software. The costs are then assigned by giving the same value to the distinct job number when they are incurred.
3. What accounting type is useful in the construction industry?
There are specific accounting techniques for construction accounting UK. That specific accounting method includes an accrual basis, cash basis, the percentage of completion method (PCM), and the completed contract method (CCM).
4. Why is construction accounting important?
You can manage your cash flow, keep costs under control, and track your performance with the aid of accurate and timely financial reports for the construction industry. This is crucial for any firm, but the construction sector—which by its very nature is highly uncertain—is where it counts. Therefore, it is vital to hire professional and experienced construction accountants in the UK.
5. How does Lancing Cotswold manage construction accounting?
Here are the five easy ways how Lancing Cotswold manages construction accounting UK:
- Tracking all the vital expenses
- Putting their best in bookkeeping
- Understanding all the tax deadlines
- Taking care of the company's daily records
- Managing the cash flow