Accountants for construction companies and contractors
Construction has its own tax rules, and mistakes are expensive. We look after RCT, reverse-charge VAT, payroll and year-end accounts for builders, main contractors and subcontractors across Ireland.
Why construction is different
RCT and VAT rules catch people out
Principal contractors must register every subcontract with Revenue and notify each payment through ROS before paying the subcontractor. Revenue then sets the RCT deduction rate: 0%, 20% or 35%. Paying without notifying can make the principal liable for the tax as well as penalties.
Most construction services between a subcontractor and a principal contractor are under the VAT reverse charge, so the principal accounts for the VAT instead of the subcontractor. Getting this wrong leads to VAT assessments and interest.
We set up the right processes from the start and check them every month, so you can focus on the job.
Our services for you
Everything a construction business needs
- RCT contract registration, payment notifications and returns
- Reverse-charge VAT returns
- Weekly payroll for site staff
- Subcontractor records and tax clearance checks
- Job costing and management accounts
- Year-end accounts and corporation tax
- Statutory audits, including for tenders and bonding
- Support with Revenue RCT and VAT audits
How we help
Who we work with
- Main contractors and builders
- Subcontractors in every trade
- Groundworks, plant hire and haulage businesses
- Property developers and building companies
- New construction companies setting up RCT for the first time
Common problems we fix
Where construction firms go wrong
- Paying subcontractors before notifying Revenue
- Charging VAT on invoices that should be reverse charge
- RCT credits not offset against other taxes
- No job-by-job view of profit until the year end
- Late accounts that delay tenders and bank facilities
How it works
Working with us
Free consultation
We look at how you work, your contracts and your current records, then give you a fixed fee.
Review
We check your RCT, VAT and payroll position and fix any problems.
Monthly support
We handle RCT notifications, VAT and payroll as the work goes on.
Year end
We prepare your accounts, tax returns and any audit needed for tenders.
FAQ
Common questions
What is RCT?
Relevant Contracts Tax is a withholding tax on payments from principal contractors to subcontractors in construction, forestry and meat processing. The principal registers the contract and notifies each payment to Revenue, which sets the deduction rate.
Do I charge VAT as a subcontractor?
Usually not to a principal contractor. Most construction services are under the reverse charge, so the principal accounts for the VAT. Different rules apply when you work directly for a homeowner.
Can RCT deducted from me be refunded?
Yes. RCT deducted from your payments is a credit that can be set against your other taxes or repaid after your tax return is filed.
Do you only work with large contractors?
No. We work with sole traders, small subcontractors and larger building companies.
Can you help with an RCT audit?
Yes. We prepare for the audit with you and deal with Revenue on your behalf.
Talk to us about your construction business
Send us a short message. We will reply with the next steps and a fixed quote.
- Phone
- +353 1 960 9126
- info@ameadvisors.ie
- Office
- 77 Lower Camden Street, Dublin D02 XE80