Specialist accountancy for growing construction contractors
Sleep soundly at night knowing you are always in control of your finances.
Be more
profitable
Survive
payment terms
Avoid
unexpected tax
bills
Big surprise tax bills can bankrupt you
Every project requires future cash flow; unexpected tax bills and financial hurdles can stall projects and put your future on the line. Imagine having an accountant in your corner providing clear, industry-specific financial guidance that’s efficient and straightforward. Hive builds your business with you, ensuring your cash flow is as solid as the buildings you construct, turning potential pitfalls into stepping stones for growth.
Predict your contracting business' cashflow with regular specialist accounts advice.
An end to unexpected tax bills
Keep ahead of your taxes and make financial adjustments during the year with quarterly agile account reviews..
Avoid CIS mix-ups
Constantly review and assess your company to ensure full CIS compliance, safeguarding you from costly mistakes.
Survive project payment terms
Always know that you can survive through the long payment cycles and any possible delays by being financially resilient.
We are Construction specific accountants, working with you to overcome the financial ups and downs
Company accounts
Keep your financials accurate and current
Personal taxation
Simplify your personal tax obligations with confidence
Corporate Taxes
Stay ahead with enhanced tax and compliance strategies
VAT
Manage VAT submissions accurately and plan ahead of time
Payroll & CIS Scheme
Streamline payroll processes and CIS compliance for your workforce.
Business Advisory
Gain strategic tax and accounting insights that drive your business growth
Project cashflow Management
Maintain the financial health of your business with positive cashflow for project success
Management Accounts
Drive decisions with detailed financial reports
We advise on your accounts and business growth to achieve the life you want
- No jargon, just clear and simple advice
- CIS scheme expert guidance
- Experience with Application For Payments (AFP’s)
- Managing your Key performance indicators (KPIs)
Get Proactive Accounting In 3 Steps
01 Contractor Health Check
Assess your company's figures to see the status quo
02 Financial Growth Plan
Set your goals and outline more profitable actions
03 Stay ahead of your taxes
Quarterly agile accounts reviews to keep you on track
Hive Construction Accountants in Canterbury
Contractors frequently juggle large-scale projects, managing everything from staff to suppliers. This complexity can lead to overlooked CIS and annual tax discrepancies, potentially missed by your accountant.
At Hive Construction Accountants in Canterbury, our expertise lies in construction accountancy where we adopt a proactive stance with our hands-on approach, including quarterly check-ins and tailored financial guidance ensuring you maximise your company’s profits while steering clear of any financial surprises.
VAT is crucial in the construction industry and involves three main rates:
- Standard rate: 20% — Applies to most building work on houses and flats.
- Reduced rate: 5% — Certain exceptions may qualify for this rate.
- Zero rate: 0% — Applies to specific construction activities.
Additionally, some goods and services are exempt from VAT, which differs from being zero-rated. If your business has a taxable turnover exceeding £90,000 in any 12 months, you must register for VAT. For detailed guidelines, refer to HMRC’s VAT notice for contractors, subcontractors, and developers.
There is a lot that you or your accountant needs to do if you are a CIS contractor:
- Register with HMRC to legally operate as a CIS contractor.
- Verify each subcontractor with HMRC using the CIS online service or approved software before you make any payments.
- File monthly returns detailing the payments made, which are due by the 19th of each month.
- Make appropriate deductions from payments to subcontractors at 20% for those registered, 30% for those unregistered, or 0% if they have gross payment status.
- Remit the deductions to HMRC by the 22nd of each month, or the 19th if paying by post.
- Maintain accurate records of all payments and deductions for at least three years after the tax year ends.
That’s why we recommend using an accounting team like ours, equipped with the experience and resources necessary to handle these responsibilities for you.
Construction cashflow can be unpredictable. Manage risks by adjusting contracts for flexibility, documenting all project changes, and keeping a clear view of ongoing costs and cash inflows. This helps prevent disruptions and ensures you can meet financial obligations on time.
Your accounting questions answered
Get specialist accounts advice every quarter so you can predict your contracting business' cashflow.
Talk Tax With Laura
Laura or one of the team will reply to you within 24 hours if not sooner.
