Builder / General Contractor

Bookkeeping, VAT, payroll and tax guidance for a builder / general contractor operating in Wales.

Tailored accounting checklist — Builder / General Contractor

Specific to your business activities, on top of UK fundamentals.

Register under the Construction Industry Scheme (CIS) if you sub-contract or are sub-contracted
Track materials, tools and van running costs separately from labour
Use simplified mileage at 45p/25p per mile if not claiming actual vehicle costs
Keep dated photos of receipts for tools and materials bought on-site
Reconcile customer payments weekly — many trades take part-cash, part-card

Accounting points that apply because you trade in Wales.

Welsh Rates of Income Tax apply to Welsh taxpayers (basic, higher, additional bands)
Land Transaction Tax (LTT) replaces Stamp Duty in Wales
Non-Domestic Rates managed by the Welsh Government and local councils

Expand each section for the rules that apply to almost every UK small business.

Operational essentials

Practical setup and compliance steps every UK small business should complete in the first 90 days and review regularly.

Register the business correctly
Choose sole trader or limited company and register with HMRC.
Keep records from day one
Track income, expenses and contracts digitally under MTD.
Separate business and personal spending
Open a dedicated business bank account before trading.
Track income and expenses regularly
Reconcile weekly so nothing slips through the year.
Review VAT and payroll responsibilities
Watch the £90,000 VAT threshold and PAYE duties.
Maintain insurance and licences
Renew before expiry — keep certificates accessible.
Save invoices and receipts digitally
Cloud storage with backups for at least 6 years.
Review deadlines monthly
Diarise VAT, PAYE, Confirmation Statement and Self Assessment.

View legal requirements

Licences, insurance, GDPR & more

Speak to an adviser

Tailored accounting help for your business

Guidance aligned with official UK sources

Last reviewed: May 2026Information updated regularly

This information is general guidance only and does not replace regulated accounting, legal or tax advice.