Apr 29 2020 Improving cashflow for the construction sector – VAT Categories: COVID-19Property & ConstructionTaxation During the COVID-19 pandemic, the inability to work on site is having a massive cashflow implication for all businesses in the construction sector. As discussed in our previous article, Research & Development (R&D) tax credits can increase cash inflow however there are also various VAT relief options. The Governments VAT deferral scheme supports those affected by the COVID-19 pandemic by more
Apr 22 2020 Improving cashflow for the construction sector – R&D tax credits Categories: COVID-19Property & ConstructionTaxation During the COVID-19 pandemic, the inability to work on site is having a massive cashflow implication for all businesses in the construction sector. As well as various support packages provided by the Government, either by way of grant, deferment of taxes or bank funding, there are other options that can be considered to increase cash more
Apr 3 2020 The impact of COVID-19 on the construction sector Categories: COVID-19Property & Construction As the COVID-19 pandemic continues its firm grip of the UK, leaving all but essential construction works on hold until the crisis is over, businesses are now trying to assess the damage this will cause with the majority of sites forced to close and what support is available. The postponement of the reforms to the more
Feb 21 2020 Can you better fund your business? Categories: Property & Construction ‘Cash is king’ is an age-old saying that has always and will always be true – especially for small and medium-sized enterprises (SMEs). SMEs in the construction sector can often find it difficult to secure funding as traditional lenders are unwilling to take on such a risk with upfront labour and material costs often needed more
Jan 15 2020 Is Xero the cure to your CIS headache? Categories: Amber AccountingProperty & Construction Under the Government’s Construction Industry Scheme (CIS), contractors must deduct money from the payments they make to subcontractors to go to HMRC. These are treated as advance payments for tax and National Insurance contributions. CIS applies to businesses involved in the construction industry, and can affect businesses that are not actually in the industry but more
Nov 20 2019 Capital allowances on commercial properties Categories: Property & ConstructionTaxation Within commercial properties there are a number of items that might qualify for favourable tax relief. In relation to property construction, capital allowances may be available to a taxpayer on certain capital expenditure, regardless of age, specification or interest held. Capital allowances reduce the amount of tax paid by either an Income or a Corporation Tax more
Oct 30 2019 Building Scotland Fund – alternative funding for the construction sector Categories: Property & Construction Have you been refused funding from mainstream institutions for your property or construction project? There may be an alternative. From 2019 to 2021, the Building Scotland Fund (BSF) intend to invest £150 million by making loans and acquiring equity in businesses. Public sector bodies involved in the delivery of the BSF are: the Scottish Government, more
Sep 25 2019 VAT on Construction and Development Projects Categories: Property & Construction The rate of VAT to charge on Construction and Development Projects can often cause confusion as the supply may be chargeable at the standard rate (20%), reduced rate (5%), zero rate (0%), or the supply may be exempt. This article aims to summarise the underlying rules that determine which rate of VAT should be used. more
