🏗️ Construction accounting
Accounting software built for UK builders and contractors
CIS deductions, MTD VAT and subcontractor statements — handled from the same platform you use for invoicing, bank feeds and payroll. No bolt-on CIS module, no manual bridging.
Built for how construction businesses work
From the first subcontractor payment to year-end, Finovo tracks the numbers HMRC needs without slowing down the job.
CIS deduction tracking
Log subcontractor payments, calculate deductions at 0%, 20% or 30%, and generate payment and deduction statements — all from verified HMRC status.
MTD VAT for contractors
Submit quarterly VAT returns directly to HMRC through recognised Making Tax Digital software. No spreadsheet bridging, no third-party bridge.
Open Banking bank feeds
Connect UK bank accounts so site payments, materials purchases and subcontractor costs import automatically — matched to invoices without manual entry.
Subcontractor invoicing
Issue invoices with the correct CIS treatment already applied. Domestic reverse charge VAT is handled at the invoice level so your accounts stay clean.
Payroll via BrightPay
Sync payroll data from BrightPay so PAYE, National Insurance and RTI submissions sit alongside your CIS entries in one ledger.
European site work
For UK contractors with projects in Germany or France, Finovo adds ELSTER and Chorus Pro in the same subscription — no second accounting tool for EU compliance.
Free tool
Free CIS Deduction Calculator
Calculate the CIS deduction on any subcontractor payment — gross, verified (20%) or unverified (30%) — and download a compliant payment and deduction statement.
How Finovo compares to Xero for construction
Xero is widely used in construction. Finovo matches UK essentials and adds native CIS tracking, MTD direct submission and cross-border compliance in a single subscription.
Construction accounting — frequently asked questions
- Do I need specialist software for CIS?
- You need software that records CIS payments, calculates deductions at the correct rate (0%, 20% or 30%) and generates payment and deduction statements for subcontractors. Finovo does this within the main accounting ledger — no separate CIS add-on.
- What is the CIS monthly return (CIS300)?
- CIS300 is the monthly return that contractors submit to HMRC showing all subcontractor payments and deductions in the previous tax month (6th to 5th). It is due by the 19th of each month. Finovo prepares the data from the CIS entries already recorded in your ledger.
- Is MTD compulsory for construction businesses?
- Yes. VAT-registered construction businesses must keep digital records and submit VAT returns using MTD-compatible software. Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is also being phased in for sole-trader subcontractors above the income threshold.
- What is domestic reverse charge VAT in construction?
- The domestic reverse charge (DRC) applies to most construction services supplied between VAT-registered businesses in the supply chain. Instead of the supplier charging VAT, the customer accounts for it. Finovo applies DRC treatment at the invoice level so your VAT return reflects the correct position.
- Can I use Finovo for a UK construction company with EU sites?
- Yes. For UK contractors with work in Germany or France, Finovo covers ELSTER VAT filing (Germany) and Chorus Pro invoicing (France) in the same subscription alongside UK CIS and MTD — no second accounting tool needed.
CIS compliance without the spreadsheets
Start a free trial. CIS tracking, MTD VAT and subcontractor statements are included from day one.