Regulatory Change
FRS 102 Changes Have Landed: Construction Firms Need To Act Now
Understanding how revenue recognition and lease accounting changes could impact your business.
Construction Accountants and Business Advisers
Specialist accounting, audit, tax and business advice for contractors, housebuilders and construction groups - including ambitious owner managed businesses.
Protect value, improve performance and plan confidently
Talk to a Construction Specialist
Trusted by 1,000+ privately owned businesses
Growing a construction business means balancing cashflow, contract profitability, workforce pressures and changing regulations – while continuing to deliver and plan for the future. That’s why leading contractors, housebuilders and construction groups trust Cooper Parry for specialist advice built around the realities of their sector.
BUILT FOR AMBITIOUS PRIVATELY OWNED CONSTRUCTION BUSINESSES
Whether you’re looking to improve performance, navigate change, accelerate growth or plan for the future, our construction specialists are here to help. Tell us what’s happening in your business and we’ll connect you with the right people.
Talk to our construction team
Advice Built Around the Realities of Construction
Running a successful construction business means balancing commercial opportunity with constant operational complexity.
From protecting contract margins and managing working capital to navigating regulatory change, investing in technology and planning for succession, construction leaders face high stakes decisions every day.
Our construction specialists bring together audit, tax, deals, advisory and digital teams, to help owners and leadership teams protect value, improve performance and confidently plan what comes next. Not just compliance.
Improve Profitability & Performance
Turn stronger insight into stronger margins.
Protect contract margins, understand project profitability and identify opportunities to improve commercial performance.
Strengthen Cashflow
Keep cash moving and your business resilient.
Improve working capital, strengthen forecasting and manage the financial pressures created by complex contracts and payment cycles.
Navigate Regulatory Change
Stay ahead of change and ready for what’s next.
Understand the impact of FRS 102, evolving regulations and changing reporting requirements on your business.
Optimise Tax & Shareholder Value
Protect value today. Build more for tomorrow.
Optimise tax structures, strengthen governance and make decisions that support the business and its shareholders.
Enable Growth and Transformation
Turn ambition into sustainable growth.
Complete acquisitions, improve systems and use technology and digital transformation to support sustainable growth.
Prepare for Succession or Exit
Get your business ready for its next chapter.
Strengthen governance and leadership structures while preparing for succession, a management buyout or future sale.
CONSTRUCTION INSIGHT YOU CAN PUT INTO ACTION
Our specialists work with construction leaders every day, helping them respond to regulatory change, improve performance and plan confidently for the future.
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Strategic Growth
Privately Owned. Future Ready
Audit, tax, deals, technology and strategic advisory under one roof, providing joined-up advice as your business evolves.
Client Story
How We Helped Altrad
How we helped them scale supporting growth, governance and decision-making during a period of transformation.
WHY CONSTRUCTION LEADERS CHOOSE COOPER PARRY
Sector Expertise
Deep experience across contractors, civil engineering businesses, housebuilders, specialist trades and property-related groups.
One Advisory Team
Audit, tax, deals, technology and strategic advisory under one roof, providing joined-up advice as your business evolves.
Future-Focused
Support throughout the full lifecycle of a business, from growth and acquisition through to succession planning and exit.
Specialist construction knowledge
Our construction specialists combine deep sector knowledge with expertise across audit, tax, deals and business advisory. They work closely with owners and leadership teams to understand the business behind the numbers and provide practical advice for what comes next.
Construction Accounting, Audit and Reporting
Specialist knowledge across:
- Cost Value Reconciliations
- Profit and revenue recognition
- Valuation certificates and contract variations
- Liquidated and ascertained damages provisions
- JCT, NEC and framework contracts
- FRS 102 reporting changes
Construction Tax Services
Specialist advice across:
- Construction Industry Scheme
- VAT Domestic Reverse Charge
- Construction and property VAT
- Capital Allowances
- Land Remediation Relief
- Employment Taxes
Meet Our Construction Specialists
Our construction specialists combine deep sector knowledge with expertise across audit, tax, deals and business advisory. They work closely with owners and leadership teams to understand the business behind the numbers and provide practical advice for what comes next.
FAQs
Construction companies face unique financial challenges, including long-term contracts, revenue recognition, work in progress (WIP) calculations, CIS compliance, retention payments and fluctuating cashflow. Specialist accountants understand the industry’s regulatory requirements and commercial risks, helping businesses improve profitability, maintain compliance and make better-informed decisions. They can also provide sector-specific advice on tax planning, forecasting and contract performance.
Construction companies can strengthen cashflow by improving project forecasting, closely monitoring work in progress, invoicing promptly, managing retentions effectively and maintaining tight credit control processes. Regular cashflow forecasting helps identify potential shortfalls early, while better management of supplier payments, debtor collections and project profitability can improve working capital and support sustainable growth.
Common Construction Industry Scheme (CIS) mistakes include failing to verify subcontractors, applying incorrect deduction rates, submitting monthly returns late and maintaining inadequate records. Errors can result in penalties, cashflow issues and HMRC investigations. Regular reviews of CIS processes and accurate record keeping can help construction businesses remain compliant and reduce the risk of costly mistakes.
Work in progress should reflect the value of partially completed work at the reporting date. Construction companies need a consistent methodology to measure costs incurred, progress against contract milestones and expected profitability. Accurate WIP reporting helps businesses understand project performance, recognise revenue appropriately and produce reliable management accounts and financial statements.
Recent changes to FRS 102 introduce updated requirements in areas including lease accounting and revenue recognition. Construction companies may need to review how leases are presented in their financial statements and assess whether existing accounting policies remain appropriate. Understanding the impact early can help businesses prepare for compliance, avoid reporting issues and ensure stakeholders have a clear picture of financial performance.
Many construction companies are exempt from a statutory audit if they meet the relevant size thresholds. However, an audit may still be required due to company size, group structure, shareholder agreements, lender requirements or regulatory obligations. Even where not mandatory, an audit can provide assurance to investors, banks and other stakeholders while helping to strengthen financial controls.
When changing auditors, construction businesses should consider the firm’s industry expertise, understanding of construction contracts, audit approach, service levels and ability to provide proactive advice. A smooth handover process is also important to minimise disruption and maintain compliance. Selecting an auditor with construction sector experience can provide valuable insights into risk management, profitability and regulatory requirements.