Over recent years, we at Alexander Myerson & Co Limited have been appointed to act for many individuals, organisations and companies in the Property and Construction sector to add to our growing portfolio. We have been appointed to act for a variety of people such as those managing portfolios of buy to let properties, building contractors, sub-contractors, tradesmen and developers.
We regularly assist in areas such as Accounts Preparation, Audit, Personal and Corporate Tax, Tax Planning, Vat, Payroll and CIS (Construction Industry Scheme) administration. We also offer our expertise to developers and investors on all areas from tax planning to the complex VAT issues for example surrounding property transactions and advice on SDLT (Stamp Duty Land Tax) liabilities. Wherever possible we will look to minimise tax liabilities and maximise tax reliefs such as capital allowance claims which recently have been a hot topic in this sector. Careful tax planning is essential to ensure our clients receive the best possible tax relief.
Clients will often seek our advice on the complexities such as Income Recognition and the valuation of Work in Progress in order to meet their legal responsibilities and in order to provide accurate financial information on which they can make those financial decisions that could take their business to the next level.
We often assist our clients with the requirements of Financial Institutions such as preparing cashflow statements and forecasts/projections for example in order to help raise finance for future developments and property purchases.
Whatever your Property and Construction needs you can be sure that our team at Alexander Myerson & Co Limited have the experience to help make your business a success.
Who can help
Property & construction
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HMRC. The deductions count as advance payments towards the subcontractor’s tax and National Insurance. Contractors must register for the scheme. Subcontractors don’t have to register, but deductions are taken from their payments at a higher rate if they’re not registered.
The CIS scheme affects businesses involved in construction. To ensure that you are compliant with the rules please do get in touch.
Costs of construction can accrue over a long period of time. For help in ascertaining what the value of your work in progress is, contact us for our assistance in calculating using the correct methods acceptable by HMRC and for Financial Reporting.
This is a complex area, for example dealings in land could be standard rated, zero rated, exempt or outside the scope of vat. Contact us for more information.