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Filtered By Category: Property & Construction

Mar 8 2019

Construction company vehicles – How much tax relief can you claim?

Categories: Property & Construction

When it comes to claiming capital allowances, there seems to be some uncertainty, especially knowing which vehicle expenses are tax deductible. The first question that needs to be considered is – what type of vehicle do you need for your business? Heavy plant/machinery vehicles (Cranes, Bulldozers, Forklifts, Excavators,Diggers and any heavy-duty vehicle, specially designed for executing more

Feb 22 2019

Construction in 2018/19

Categories: Property & Construction

With the Brexit deadline fast approaching, and with it the continuing uncertainty, the UK construction industry output for 2018 is expected to be lower than 2017. 2018 has been a challenging year, with the Carillion collapse at the start of the year having a domino effect on the sector, resulting in an increase in the more

Nov 16 2018

Capital Allowances for Structures and Buildings

Categories: Property & ConstructionTaxation

The Chancellor announced at the 2018 budget that the government will introduce a new Structures and Building Allowance (SBA) for new non-residential structures and buildings. Relief will be provided on eligible construction costs incurred on or after 29 October 2018. The key features of the SBA are – Relief to be given at a flat more

Sep 17 2018

VAT changes within the construction sector coming late 2019

Categories: Property & Construction

VAT fraud within the construction sector is costing the Exchequer around £100m a year with the cases of fraud generally occuring between the sub-contractor and the contractor. The sub-contractor provides the contractor with labour and charges VAT on the supply. The sub-contractor collects the VAT from the contractor, but then disappears without paying it over more

Jul 31 2018

Recognising profits and losses on construction contracts

Categories: Property & Construction

With a number of high profile construction companies recently going in to liquidation, it is a reminder that no matter what size of business you are, the need to keep accurate financial records on your construction contracts is paramount. Outcome if the contract can be estimated reliably If the outcome of a construction contract can more

May 21 2018

Tax and financial planning for the purchase of equipment

Categories: Property & Construction

Investing in more expensive, quality equipment rather than purchasing cheaper equipment that requires regular repairs, is not a new theory, but one that is still not fully embraced by companies working in the construction industry. In the long run the cheaper equipment can end up costing companies more money and inconvenience, in terms of unplanned more

Apr 30 2018

The impact of technology on training in the construction industry

Categories: Property & Construction

Some of the biggest challenges for the construction industry include improving the skillset of those working in the industry and keeping pace with modernisation. One of the areas that has been impacted by modernisation, through technological advancement, is equipment and safety training. Previously for training on plant equipment there was more one-to-one training and small more