Joint venture construction accountants
Forming a joint venture can help you share skills, expertise and cost. We can help you work together from a financial and accounting perspective.
Within the construction industry it is common practice for a property developing company and a construction company to team up on a project. This allows combined skills and expertise to bring the project in on, or under, budget.
It often makes sense for the companies to form a jointly owned subsidiary company to pay all the subcontractors and consultants, including themselves.
In the interest of fairness the accountancy function should be outsourced to an independent accountant so that neither of the owners hold the funds and this is where we can assist.
At Rouse, as specialists in the construction sector we have significant experience in running the accounting function for joint venture initiatives. We have assisted many high-profile joint ventures, including projects with £100m+ turnover and lasting several years.
Why choose us as your joint venture accountants?
- We have an excellent reputation within the construction sector and have been recognised by various accounting industry awards, including winning ‘Large firm of the year’ in the AccountingWEB Practice Excellence Programme 2014.
- We can offer you a complete package, or allow you to choose just selected services to fit the needs of your joint venture.
- Our team includes experienced joint venture advisors who will be able to provide specialist advice in areas such as VAT, Tax and management reporting.
- We can help ensure you are meeting all your tax compliance requirements, which can help you achieve or maintain gross payment status, thus improving cash flow and your business reputation.
Accountants for joint ventures construction projects
Our services for joint ventures include:
- Company Secretarial Function
- Registered office
- Opening corporate bank account
- Preparation of project budget and costing for business plans
- CIS registration
- VAT registration
- Calculating correct VAT rate for supplies (mixed use development)
- Advice from our VAT experts should the need arise
- Provision of credit control services if necessary
Paying labour costs
- Establishing correct employment status for workers
- Completing CIS returns for subcontractors and payroll for employees as appropriate
- Ascertaining the correct payment status of subcontractor
- Processing payments by BACS, CHAPS or cheque
- Monthly CIS returns
- Monthly/quarterly VAT returns
- Corporation tax returns
- Employer Annual Return
- Personal Tax Returns
- Monthly Management Accounts
- Annual Accounts
Contact us today to arrange a free, no obligation meeting to discuss how we can support your joint venture project.