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Accountants For Construction Workers

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Unless you already have experience, you may be forgiven for thinking that accounting for construction workers and the construction industry as a whole was easy.

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However, the truth is, due to the fast pace of the industry and the fact that the rules, regulations and legislations keep changing, it is perhaps one of the hardest industries to get accountancy right while staying fully compliant. Especially if you try to handle your accounting.

It would be difficult to run a successful business while managing your accounts at the same time as staying on top of all the complicated legislation. You could end up wasting lots of your valuable time, time that could be spent on what you do best – running your business.

That’s where Tax Bite come in.

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Why You Need a Specialist Construction Accountant

A normal accountant who has a broad range of expertise in accountancy will be adequate for simple businesses. However, for your construction business, you are better off turning to a qualified accountant who works with construction businesses all day, every day.

They have a better understanding of what is required within the industry and can help your limited company improve its cash flow and meet its financial goals.

Construction Accountants Understand CIS and WIP

Do you know what CIS and WIP mean? Neither does the average accountant without specialist construction industry knowledge and training.

What is the CIS?

CIS is short for Construction Industry Scheme and under it, construction contractors deduct the money they get from their subcontractor payments and then pass it on to HMRC. These deductions contribute to advanced payments on the subcontractor’s national insurance and income tax bills.

CIS covers the vast majority of construction work and activities, like building works, electrical works, plastering, roofing, and plumbing.

What is WIP?

WIP or Work in Progress is the value of any work completed for which there has not been an invoice sent out yet. As an example, if a construction team is halfway through one particular project that has an estimated value of £20,000, the appropriate VIP would be £10,000The problem is that, although we made that seem simple, calculating WIP and related assets is never quite as simple as you may imagine.

If you have any questions about CIS, WIP or anything else about business, tax and accounting legalisations within the construction industry, please contact the team here at Tax Bite today.

Our Construction Accounting Services

As we have discussed, construction is a complicated one, particularly when it comes to accountants. Don’t take the risk and waste time, money and your business by trying to take care of your construction business accountants yourself. Speak to one of the team here at Tax Bite and take advantage of the following financial services:

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Why Work With Tax Bite Construction Accountants

Tax Bite has served the property and construction sector for a number of years now, and in that time, we have developed a first-rate level of service. In our capacity as specialist construction accountants, we have helped businesses big and small, with everything from tax services and tax planning to business structure, optimising cash flow and everything related to the Construction Industry Scheme CIS.

  • Dedicated accountant
  • Accredited and qualified accountant
  • ATT and ICAEW Registered
  • Transparency
  • Forward-thinking
  • Value-added service


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The construction industry is a complex and difficult one to navigate through. While you may be tempted to take on the responsibility of dealing with your accounts by yourself. Even if you have some level of accountancy experience, it will be nothing when compared to the level of insider knowledge and experience Tax Bite have.

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For more information about our construction accounting services, to get your free quote or if you have any other questions about our team, please get in contact with TaxBite today.

Accountants For Construction Workers