Construction is the practice of constructing an infrastructure, road or commercial/domestic building. Construction typically takes place on location for a known client.
Strong collaboration is essential across multiple disciplines of construction. An architect generally manages the process of planning and designing of physical structures and construction engineer or project manager supervises it. So effective planning is vital for the successful execution and completion of a construction project.
The business of real estate includes buying, selling, or renting land, commercial or domestic buildings which require strong cash management the business of real estate; the profession of buying, selling, or renting land, buildings or housing expertise.
Real estate and construction corporations operate in a highly aggressive and gradually becoming more complex environment. More important in United Kingdom the industry is becoming more dynamic than ever before due to increasing challenges posed from both domestic and foreign firms which are causing many contractors to expand their portfolios, applying greater control over cost to meet budget targets, completing jobs on time and above expectations.
To remain competitive, corporation must keep a close understanding on their job costs through precise, relevant, accurate and timely internal reporting. Construction & real estate industry requires a deep understanding of the economic and financial side of the business. WeAccountax can aid you to remain competitive through ensuring adherence to regulatory framework, providing timely management reports and cash flow budgets.
WeAccountax helps to manage your real estate or construction industry’s predicted or unpredicted issues through our committed Real Estate and Construction experience professionals. Our skilled accountants have particular experience helping clients in real estate, home building & land development and commercial real estate. Construction
Solutions by WeAccountax
In view of this escalating pressures within the highly competitive real estate and construction industry, WeAccountax suggest you to handover these complex task to our professional team
By having extensive knowledge in real estate & construction sector we help clients to maximize the value of their projects despite the presence of challenging regulations & compliance framework.
Our expert accountants realize the key issues that your businesses might face within this sector and are adept enough to endure accountancy support and tax advice. Some of the key challenges our experts can help you address are below:
Landlords are facing increasing pressure by tax authorities due to higher tax rate relief on mortgage interest payments, which is causing gradually increased tax liability per year. Consulting from a financial & tax expert can help reduce the impact of the higher taxes through careful tax planning.
The UK government is becoming more prudent on tax evasion in the construction industry due to heavy impact on economy of such industry, which requires greater controls to ensure tax compliance than ever before for owner-managed businesses to. It is vital to registered under the Construction Industry Scheme (CIS) for all contractors and sub-contractors, so that tax is deducted at the correct rate.
This industry is targeted industry for HMRC investigation; so it is vital for construction & real estate companies that tax return declares all sources of income to avoid risk of penalties.
Strategic Planning and Cash flow Management
To achieve desired results in terms of cost, duration and profit, it is vital to devote careful consideration in planning, decision making and execution of strategy, this is more important in the presence of downturn due to the rise in capital outlays and high level of competition affecting bidding prices. These concerns have placed higher importance on the need for improved controls on budgeting process both of project and business.
Whether you are a small & medium sized enterprise or a diverse big venture, our accountants for accounting for real estate services are tailored to your precise requirements and well planned around your key objectives. From year end accounts, personal/corporation tax and VAT advice, to optimizing cash flow & profitability, our specialized accountants are ready to help you in managing your business operations and expand to your full potential, along with eliminating obstructions from the challenges you face.
Contact to one of our expert to explore how WeAccountax can help you or your construction & real estate business.