Your joint venture accounting function
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.
We’re construction specialists
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, from small development projects to those with £100m+ turnover and lasting several years.
Why choose us as your joint venture accountants?
Joint venture construction accountants
Our accounting services for joint ventures include:
Company
start-up
- Company Secretarial Function
- Registered office
- Opening corporate bank account
- Preparation of project budget and costing for business plans
- CIS registration
- VAT registration
Accounts and tax returns
- Annual Accounts
- Audit
- Monthly Management Accounts
- Monthly CIS returns
- Monthly/quarterly VAT returns
- Corporation tax returns
- Employer Annual Return
- Personal Tax Returns
Sales and purchase invoicing
- 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
- Ascertaining the correct payment status of subcontractor
- Processing payments by BACS, CHAPS or cheque
Paying labour
costs
- Establishing correct employment status for workers
- Completing CIS returns for subcontractors and payroll for employees as appropriate
Stay up-to-date on the latest developments:
Download our Construction Report 2024
The construction sector is currently facing a series of challenges that could impact demand, operational matters and profit margins. Our construction report includes:
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- Industry cost benchmarks, profit margins and material prices
- Construction VAT issues, common errors and how to avoid them
- Major CIS changes this year
- What you need to know about the new biodiversity net gain rules
- How to protect your firm during challenging times
- And more…
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Get in touch
Whether you have a specific query, would like to discuss how we can help or for a no obligation quotation, complete this form and and we will get back to you as quickly as we can.