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Government vetoes project bank account proposal

Construction Enquirer

The Government has blocked an attempt to amend the planned Procurement Bill to include mandatory project bank accounts for all jobs valued at over £2m. “Government Departments have made a commitment to use PBAs in construction projects unless there are compelling reasons not to do so. ”

Banking 115
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Ringleaders jailed after £5m construction tax fraud

Construction Enquirer

The ringleaders of a gang who triggered Northern Ireland’s biggest ever tax fraud probe have been jailed thanks to secretly recorded conversations in a bugged accountant’s office. The gang created a false audit trail that enabled clients to operate in the construction industry without paying tax or VAT.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. Construction Law. Construction Safety. Industry News. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Mountjoy, Chilton, Medley LLP is a CPA firm with a team of accountants dedicated to construction accounting.

Banking 120
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Subbies left unpaid by developer Empire Property Concepts

Construction Enquirer

Empire Property Concepts Ltd changed its name to MCIOD Limited days before Metro Bank called in the administrators. Companies House records show Empire Properties Concepts Limited was registered in June 2021 and has posted only accounts for a dormant company since then showing £100 in the bank.

Banking 100
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Major roof truss maker calls in administrators

Construction Enquirer

The Northamptonshire headquartered business turned over more than £35m according to last published accounts and operated out of several branches across the south, Midlands and Wales. In 2015 Simon Kidney, coming from a former investment banking background, took up the role of CEO as part of the management buyout.

Banking 104
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The Secret Sauce to Protecting Construction Profits  

Autodesk Construction Cloud

While incredibly rewarding, the construction industry is a challenging sector to work in for cost-focused business and project executives. Bank failures, rising interest rates, high material prices, and labor crunches are all making it more challenging for construction companies to protect, let alone, improve their margins.

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Hill Group counts on partnership housing to drive growth

Construction Enquirer

Last year Hill Group delivered 2,203 new homes and continued to enhance its development pipeline, which now comprises around 8,500 homes. Hill’s accounts show a £315m land bank of over 12,300 homes, representing £4.6bn of future income, and a balance sheet of £322m together with net cash of £132m.

Housing 79