Accountants for builder and developers

Building your business

We love working with construction businesses, big or small, helping them reach their potential in a tough commercial environment.

The building industry employs millions of people, especially in the South East of England. From project payroll and bookkeeping to accounts and business plans that will inspire investors and lenders, Diamond is built to support the trade. And when it comes to the practicalities, we’re experts on the construction industry scheme (CIS) and construction VAT, too.

The CIS

Under the CIS, contractors have to deduct money from subcontractors’ payments and pass those on to HMRC.

These deductions are counted as advance payments towards the subcontractor’s tax bill and National Insurance payments.

This can be tricky to handle but as part of our payroll service, Diamond can handle this quickly, efficiently and accurately.

Advice for developers

Different types of property development have to be treated differently in terms of VAT. Building houses or flats from scratch is one thing, renovating historic properties is another.

A reduced rate of VAT is available for certain projects but not all accountants know enough to claim it. We always do because even if it’s complicated, it’s worth it.

And how is the property going to be used when you’ve built or renovated it? There are tax advantages to be had depending on whether you let them on a long-term basis or, as is common across Kent and Sussex, as furnished holiday lets.

Accounting for builders and sole traders

It’s not just about the big boys. Lots of our clients are sole traders or self-employed specialists – plumbers, bricklayers, electricians and so on.

From handling your self-assessment tax return to corporation tax, we’ll take on the technical stuff so you can get out and do more jobs.

We’ll also sort you out with cloud accounting software so you can issue invoices, chase late payments and check your accounts at home, on the site or on the move.

01

02

03