Accountants for Construction Businesses
Specialist accountants who understand CIS, reverse charge VAT, subcontractors, and the real pressures of running a construction business.
Built for Construction — Not Adapted From a Generic Template
Magnum Accountancy works exclusively with construction businesses — contractors, subcontractors, housebuilders, developers, trades, and specialists. We understand CIS deductions, reverse charge VAT, subcontractor verification, job costing, and the cash flow pressures that come with the territory. This isn’t a bolt-on service — it’s all we do.
CIS Compliance — Done Properly
The Construction Industry Scheme has teeth — and HMRC is actively checking compliance. We handle every aspect: subcontractor verification, monthly CIS returns, deduction statements, and keeping your records clean for inspection. Whether you’re a contractor deducting from subbies, or a subcontractor managing your own deductions, we’ve got it covered.
- Monthly CIS return preparation and submission
- Subcontractor verification with HMRC
- CIS deduction statements for your subbies
- CIS suffered reclaim via your payroll or tax return
Reverse Charge VAT — No Confusion
The domestic reverse charge for construction services trips up a lot of businesses — and getting it wrong costs money. We make sure your VAT returns are correct, your invoices are compliant, and your cashflow isn’t being squeezed by VAT timing issues. We also advise on the best VAT scheme for your business — flat rate, cash accounting, or standard.
- Domestic reverse charge compliance
- Quarterly VAT return preparation and submission
- VAT scheme advice tailored to construction
- Invoice checking so you’re always compliant
Payroll for Site Workers and Office Staff
Managing payroll across a mix of directly employed workers, labour-only subcontractors, and PAYE staff is more complex than most payroll providers handle. We run your payroll correctly, making sure the right deductions are made, RTI submissions hit HMRC on time, and your workers are paid accurately every time.
- Weekly, fortnightly, and monthly payroll
- RTI submissions to HMRC
- PAYE and National Insurance management
- Workplace pension auto-enrolment and submissions
Job Costing & Management Accounts
Winning contracts is one thing — knowing whether each job is actually profitable is another. We help construction businesses track costs at a job level so you can see what’s working, what isn’t, and where you’re losing margin. Monthly management accounts give you a clear view of the business — P&L, balance sheet, and the financial insight you need to make decisions with confidence.
- Monthly management accounts — P&L and balance sheet
- Job costing and project profitability reporting
- Cash flow forecasting
- Financial commentary and insight, not just numbers
Bookkeeping That Keeps Up With the Build
Construction bookkeeping isn’t straightforward — multiple jobs running at once, retention payments, materials and labour split across projects, and supplier invoices arriving in batches. We keep your books clean, up to date, and structured so your accounts are always ready — whether that’s for a bank, a bonding company, or just your own peace of mind.
- Weekly or monthly bookkeeping
- Purchase and sales invoice processing
- Bank reconciliations
- Retention tracking and supplier payment runs
Accounts & Corporation Tax
Your annual accounts and corporation tax return handled end to end — prepared to a standard that satisfies HMRC, your bank, and any bonding or tendering requirements. We also advise on tax planning throughout the year so you’re not hit with an unexpected bill at year end. Directors’ self assessment included where needed.
- Annual accounts preparation and filing
- Corporation tax return and payment planning
- Directors’ self assessment tax returns
- Year-round tax planning advice
Talk to a Construction Accountant Today
Whether you’re a sole trader subbi or a £5M contractor, we’ll give you a straight answer on what you need and what it costs. No obligation.
Daxa Khunti — Managing Director
📞 01223 297374 | ✉️ daxa@magnumaccountancy.com