Over the past few years, margins have been cut to the bone for many construction companies as they struggle to maintain turnover in an extremely challenging economic environment.
Consequently, the need for funding at the sub-contract end of the industry has intensified with many banks and other traditional lenders still perceiving (rightly or wrongly) that construction is a high risk industry. Even though there are indicators of economic growth starting to show through, funding still remains an issue, with lenders remaining overly cautious.
With experience working closely with many clients in the construction business, we are able to assist you with information regarding various financial products you may find useful as well as looking at steps you can take to improve your financial situation should that be an issue of concern.
Other areas you may like to discuss with us include the following:
- Provision of compliance services including both external and internal audit;
- Assistance with CIS registration/reporting;
- VAT compliance and advice – e.g. complexities arising from varying rates on different types of work;
- Corporation tax compliance and planning;
- Tax advice – PAYE, National Insurance and SDLT;
- Management accounting;
- Corporate finance;
- Mergers, acquisitions and disposals along with introductions to suitable business partners when appropriate;
- Remuneration planning, particularly for key employees and owner-managers;
- Strategic planning and advice on cash management;
- Debt restructuring.
If you would like to arrange a more in-depth discussion with our construction accountancy team about our experiences in the construction sector, please feel free to contact us at Barnes Roffe for more information.Talk to Barnes Roffe today Barnes Roffe has tried to ensure that the contents and information it provides in its website is accurate at the time of posting. Unfortunately it cannot guarantee the accuracy of contents or information contained in its pages and any person choosing to act on this information should contact a Barnes Roffe partner prior to taking any action