Construction
Through having a significant number of clients in the construction industry, Monahans have developed a considerable expertise in this sector.
Our construction team is headed up by Stephen Fry who specialises in this area and is fully aware of the issues relating to builders, contractors and subcontractors.
To contact Stephen either telephone 01458 836810 or email him via this link
Builders Beware!
You cannot help but notice that there are problems in the property sector. Lenders profits have been squeezed by the credit crunch and they are increasing fees and not passing on the recent interest rate cut to customers.
Building Contractors Face Even More Difficulties
In addition to all the difficulties facing building contractors, another problem exists which too many contractors are ignoring at their peril.
The New Construction Industry Scheme
On 6th April 2007, a major change took place relating to the taxation of subcontractors in this market sector. To find out more, take a look at our Help Sheet via this link.
Monahans, through Check-Tek, have just introduced a new module of Sage Line 50 which provides a simple solution to all contractors who are concerned about how they manage this process.
The new CIS module will help ensure compliance, reduce the administrative burden and allow the capture of accurate information to reduce the risk of paying a higher tax rate.
Upon installing the new CIS Module, additional functionality will be provided to:
- Record the subcontractor information
- Manage the verification of subcontractors with HMRC
- Manage the submission of contractors monthly returns to HMRC
- Automate monthly reporting
Sage CIS is available as a bolt on to Sage Line 50 (version 2007) but anyone using an earlier version of Sage 50 or using Sage Instant would also have to be upgraded.
Construction businesses could tap into a new 'greener' market worth up to £6.5bn
Building firms, product manufacturers and suppliers could tap into a new market worth up to £6.5 billion per year, if the UK developed policies, skills programmes and financial incentives to upgrade the existing housing stock. This is the finding of a research report 'Building a Greener Britain - Transforming the UK's Existing Housing Stock', published by The Federation of Master Builders from the Environmental Change Institute, at Oxford University. The report sets out practical recommendations for what construction businesses can do to make Britain's 26 million homes greener in the future.
An excellent, friendly service with a speedy response. I would recommend them to anyone without reservation.
B.Taylor - Brick Peers Ltd