Accountants for Tradesmen
We specialise in accounting for tradesmen and women across Dorset, offering expert advice on everything from allowable expenses to VAT claims. Our team offers every essential financial service you can think of from payroll for plumbers to tax returns for tilers.
Tradesmen are always busy, racing from scheduled jobs to emergency call-outs, often seven days a week. That doesn't leave a lot of time for essential tasks such as bookkeeping, managing cashflow or getting on top of your tax return ahead of the deadline.
And in a business which relies on building a network of regular customers alongside building a constant flow of new jobs, cashflow can certainly take some management.
If your business is just you, operating as sole trader, we can handle your end of year tax return and advise on ways to reduce your tax bill overall.
But if you employ a number of tradespeople, we can look after your payroll, workplace pensions administration and give advice on how to structure your business for ultimate tax efficiency.
Accounting for trades: CIS
A key part of being a reliable accountant for tradesmen is understanding the Construction Industry Scheme (CIS).
If you employ subcontractors, you need to make sure you're complying with the requirement to deduct tax on their behalf.
And if you're a subcontractor yourself, you'll want to make sure these deductions are picked up when your tax return is processed.
Accounting for plumbing business
From solo plumbers undertaking jobs directly with clients to larger plumbing firms operating call-out services, we can help make your operation more efficient so you can focus on work that brings in money.
Claiming for allowable expenses is also vital if you want to operate profitably as a tradesman. You could be claiming for branded workwear, protective clothing, plumbing materials and numerous other items essential for your work.
Our team can advise on what you can and can't claim, and how you might go about structuring your plumbing business differently to further reduce your tax bill or simplify your tax return.
Accountancy for other trades
It's not only plumbers - we also work with electricians, plasterers, painter-decorators, mechanics, carpenters, gas engineers and almost any other trade you can think of.
Many of the principles are the same but the details specific to each discipline are different.
Our team knows, for example, that there's a reduced rate of VAT on the installation of solar panels for people over 60, that painters can generally claim brush-cleaner as an allowable expense and that roofers can claim tax relief on cleaning their work clothes.
The best accounting software for tradesmen
Because we're not tied to any one cloud accounting package, we're always free to give our clients objective advice on the right software for their exact circumstances.
In general, cloud accounting apps are fast, easy to use and give you access to all the financial information you need whether you're on site, in the van, at the office or at home.
They also help you stay on top of issuing, tracking and chasing invoices. You can even automate reminders, taking another repetitive but important job off your plate so you can focus on paying work.
Get in touch to talk to our team of accountants for trades.