Construction Accountant
We are construction accountants in Hertfordshire, and accounting for construction companies is harder than for almost any other trade. Money leaves before it arrives, the Construction Industry Scheme takes 20% of subcontractor labour at source, the VAT reverse charge means your customer accounts for the VAT rather than you, and retentions hold back a slice of every job for a year or more. Most general accountants have never run a CIS return. We run them every month.
Our construction accountants in Hertfordshire act for businesses across Harpenden, St Albans and the wider county, from sole trader subcontractors to firms running several sites. That means monthly CIS returns and deduction statements, getting the reverse charge the right way round on every invoice, job-level costing so a bad contract cannot hide inside a good year, and a cash forecast built on payment dates rather than invoice dates.
We are ICAEW chartered construction accountants in Hertfordshire and FCA-authorised for financial planning. For a director whose pension and personal position are tied up with the company, that means one conversation rather than two.
Our Construction Accounting Services
Accurate bookkeeping is essential for construction businesses managing multiple projects and subcontractors. Our team ensures your financial records remain organised, up to date, and compliant.
We provide:
- Project-based bookkeeping
- Payroll processing for employees and subcontractors
- CIS deductions and reporting
- Real-time financial tracking
- Management accounts
This allows you to monitor project performance while keeping your finances structured and transparent.
Construction businesses face unique tax requirements that require careful management.
As specialist construction accountants, we ensure your company meets all regulatory requirements while identifying opportunities to reduce your tax burden.
Our services include:
- CIS returns and compliance
- Corporation tax planning
- VAT for construction companies
- Domestic reverse charge guidance
- HMRC compliance and reporting
We ensure your business stays fully compliant while maximising tax efficiency.
Construction companies often grow quickly, and financial planning becomes critical when managing larger contracts and teams.
Cubed Consultancy provides strategic financial support including:
- Cash flow forecasting for projects
- Budgeting and financial planning
- Profitability analysis
- Business structure advice
- Growth and expansion planning
Our aim is to give construction business owners the financial clarity needed to make confident decisions.
Where financial transparency and compliance are essential, our audit and forensic accounting services provide additional assurance.
We assist with:
- Internal financial reviews
- Compliance audits
- Financial investigation
- Risk assessment and financial controls
This ensures your construction business operates with complete financial accuracy and accountability.
Specialist construction accountants in Hertfordshire
Construction businesses operate differently from most companies. Project-based work, fluctuating cash flow, subcontractor management, and complex tax rules all require a tailored accounting approach.
As experienced construction accountants, we work closely with construction businesses to simplify financial management while ensuring compliance with HMRC regulations.
Our construction accounting services include:
- CIS compliance and subcontractor verification
- Bookkeeping and financial reporting
- Payroll and subcontractor payment management
- Tax planning and corporation tax advice
- Cash flow forecasting for projects
- Job costing and profitability analysis
- VAT advice including domestic reverse charge
By providing proactive support and accurate financial insights, we help construction companies maintain strong financial foundations while planning for long-term growth.
Why Construction Companies Choose Cubed Consultancy
Industry Expertise
As experienced construction accountants, we understand the financial complexities of construction businesses including subcontractor payments, CIS regulations, and project profitability.
Qualified Accounting Professionals
Cubed Consultancy is a registered ICAEW firm, providing trusted and regulated accounting services to businesses across Hertfordshire and beyond.
Practical Business Advice
We go beyond compliance. Our team provides commercial financial advice that helps construction businesses improve profitability, control costs, and scale sustainably.
Long-Term Partnership
We work closely with our clients, building long-term relationships and acting as trusted financial partners as their construction businesses grow.
Work with construction accountants in Hertfordshire
If you are looking for an experienced construction accountant who understands the realities of the construction industry, Cubed Consultancy is here to help.
We support contractors, subcontractors, developers, and construction companies with proactive accounting, tax planning, and financial advisory services.
Speak to our team today to discuss how Cubed Consultancy can support your construction business.
What is the Construction Industry Scheme and do I need to register?
The Construction Industry Scheme is HMRC’s system for deducting tax from subcontractors’ payments in advance. You must register as a contractor if you pay subcontractors for construction work, or if you spend more than £3 million a year on construction even though your business is not a construction firm. Subcontractors do not have to register, but contractors deduct 30% instead of 20% from anyone who has not. Registering as a subcontractor is free and the difference is pure cash flow.
What are the CIS deduction rates?
CIS deductions are 20% for registered subcontractors, 30% for unregistered subcontractors, and 0% for those holding gross payment status. HMRC confirms the rate when you verify the subcontractor, which you must do before paying them. The deduction applies to labour only: VAT, materials the subcontractor paid for, plant hire and consumables are stripped out first. Deducting on the full invoice including materials is the most common CIS error we see, and it costs the subcontractor real money.
When are CIS returns and payments due?
CIS monthly returns must reach HMRC by the 19th of the month following the tax month, and payment is due by the 22nd, or the 19th if paying by post. You must give each subcontractor a payment and deduction statement within 14 days of the tax month end. File a nil return in months you paid nobody. Penalties start at £100 the day a return is late, rise to £200 at two months, and can reach £3,000 or 100% of the deductions for returns more than a year late.
How does the VAT reverse charge affect my construction business?
For most construction services between two VAT-registered businesses within CIS, the customer accounts for the VAT instead of the supplier, so you invoice without charging it. Work for a private homeowner is invoiced with VAT in the normal way. The cash flow effect catches people out: subcontractors who once held their customers’ VAT for up to three months no longer receive it, and businesses that had quietly been running on that money need a different plan.
Why does my construction company show a profit but have no cash?
Because construction accounting recognises profit when work is done, and cash arrives sixty to ninety days later after certification, with retentions held back for a year or more. Wages go out weekly, materials on thirty days, and your application for payment is certified, disputed and revised before it is paid. Growth makes it worse, since a bigger contract means funding more work in advance. The answer is a thirteen-week cash forecast built on payment dates, not invoice dates, reviewed every month.
Do you work with construction businesses across Hertfordshire?
Yes. Our construction accountants in Hertfordshire work with businesses across Harpenden, St Albans and the wider county, from sole trader subcontractors to companies running several sites, and with property developers who fall into CIS without realising. Most of the work happens digitally, but for a decision on structure, a new contract or a cash problem, we would rather see you before it than after.