Due to the rising pressures within the highly competitive property and construction industry, the need for specialist support to improve and maintain business strength is at an all-time high.

As leading accountants in the East Midlands, we pride ourselves on our expert sector knowledge that enables our property and construction clients to maximise the value of their projects despite the complex compliance and regulations in place.

Our team understand the key challenges faced by businesses within this sector, meeting the demand for highly commercial accountancy support and tax advice. Some of the key issues our experts can help you address are below:

Tax Relief

Landlords are experiencing restricted higher tax rate relief on mortgage interest payments, which is causing tax liability to significantly increase per year for buy-to-let. Seeking help from a financial expert can help reduce the impact of the higher taxes through careful tax planning, to guide landlords through the changes, grow revenue and maximise profitability.

Tax Compliance

The government are clamping down on tax evasion in the construction industry, meaning that it is more important than ever for owner-managed businesses to ensure tax compliance. All contractors and sub-contractors must be registered under the Construction Industry Scheme (CIS) so that tax is deducted at the correct rate. HMRC’s yield from tax investigations in the industry has more than doubled in the past 5 years (reported in January 2016), therefore all companies within the industry must ensure that their tax return declares all sources of income to avoid risk of penalties.

Strategic Planning and Cash flow Management

The strategy taken by construction businesses to achieve objectives in terms of cost, duration and profit requires careful consideration, particularly since the recession due to the rise in capital outlays and competition affecting bidding prices. This has placed higher emphasis on the need for better project/business cash flow projections, to eliminate the risk of loss and support the financial needs of businesses within such a competitive and complex market.

Payroll

The introduction of the government’s auto enrolment (AE) legislation, affecting smaller employers up to 2017, places new obligations on property and construction companies. Business owners need to be aware of and prepared adequately for AE - staging dates and worker categories need to be understood to ensure compliance and avoid fines.

Mergers & Acquisitions

Due to the unpredictable nature of the property and construction industry, mergers and acquisitions are a growing trend as competition increases, particularly among SMEs. The ‘Right to Buy’ scheme is also driving smaller housing associations to merge with larger construction organisations. Businesses need to be fully prepared in the case of a merger or acquisition; with the right planning in place to account for the financial implications it is likely to have, such as the costs of redundancies and restructuring. As a result, forecasting and financial modelling is required.

Flexible systems

Staying ahead in the property and construction industry means that businesses require flexibility in their processes, and the systems in place to achieve this. Advancements in technology means that businesses are expected to operate in an ‘instant’ society – with quick access to data across mobile devices 24 hours a day, 7 days a week. Cloud accounting enables businesses to financially connect with clients more efficiently, as well as manage overall company accounts more effectively for a seamless service both inside and outside of the organisation.

Our services

Whether you are a family-owned business or an international household name, our full spectrum of services are tailored to your specific needs and centred around your key objectives. From tax and VAT advice, to profitability and optimising cash flow, our property and construction accountants and tax advisers are ready to help you improve your business operations and grow to your full potential, while removing obstacles from the challenges you face.

For more information, please email property@duntop.co.uk.

Profile photo Mark Taylor

Key contact

Mark Taylor

e. mark.taylor@duntop.co.uk
t. 01522 507000