“Since we’ve got a grip of our finances, thanks to Meer & Co team, our financial standing and credit rating is now excellent and the banks have been happy to support us with asset purchases. We have taken advantage of 100% of the capital allowances on our acquisitions, we are now looking to make substantial inroads into our market-place through acquiring a competitor.”
– Kev MD of 25-year-old successful family owned business in South-East England.
From an accounting perspective, property development presents a number of challenges, Contact us to discuss the services we can provide for your next project.
Yes, we have a property VAT specialist who understands construction related VAT matters, VAT on acquiring, refurbishments, conversions, new builds and sales. The VAT rules are quite complex and planning ahead is vital particularly if you are deciding between holding the property as a long term investment and treating it as held for resale, as the treatment of input VAT reclaims is different.
Yes, lenders will consider such costs as part of construction costs. You will have to let the funders know at the start of a project and we advise that you have a management company that recharges your time and a fair share of central overheads to each project.
Yes, we will provide you monthly accounts on cloud accounting on such as Quickbooks Online with whom we are Platinum partners. You will see a detailed chart of accounts relevant to your construction business and we can provide further reports which show your actual performance against budget.
It is vital that as a main contractor you verify each subcontractor for their tax status as either gross or 20% and file monthly returns and forward on the tax deductions along with your payroll. Our payroll team can assist with this.
Yes, there will be a dedicated accounts manager who you can contact by phone or email during the week. For meetings, the manager and one of the principals would attend the meeting to go over any issues over existing and new projects.