Hi
You have wandered into a UK based site so we cannot help you.
Shouting at folk by way of writing in bold and underlining is not necessary.
If you only have a few months experience in bookkeeping and do not know the construction industry specifically then I would suggest you do not specialise and offer it as a niche product until you have gained more knowledge in such a field, which cannot not be gained by asking such a broad question.
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
The principles are probably the same but our taxes are very different along with the forms to declare them on. Probably best to seek help from other bookkeepers in Canada.
Please help! I am not getting much replies on the other forums...
Therein proves my point. Sorry to be harsh, but if you are having to make such a plea on such a broad question then how can you possibly offer this as a niche?
You have mentioned high level Accountancy, but now want to do bookkeeping, but we do not know what your qualifications are. You stating what they are will also probably not help us, unless it is an internationally recognised qualification.
Are you using international accounting standards to undertake the work?
The construction sector is massive, in terms of the type of companies that can fall under that description and we don't know what part of that sector your proposed clients will be covering, we cannot cover every situation off. The question, to gain a meaningful answer, needs to be issue specific. (Also remember we are not getting paid for doing responses and most of us have our own busy practices). Plus as Faye has stated, our tax system is quite different to Canada's so you would be relying on the advice of a bunch of strangers following different regulations.
To provide just one answer to your very broad question, probably one of the biggest accountancy type issues in the broad based work of what is considered the construction sector is CIS. Ie the Construction Industry Scheme. Perculiar to the UK that one, or so I understand. Although you may well have a similar scheme in Canada that is called something else. This to do with tax arrangements of subcontractors working for contractors (and workers/companies can be one or the other, or indeed both), so all I can suggest is you dig around and see if you have tax specific regulations for that as that will impact at the bookkeeping level.
Perhaps you can approach your governing/professional body for some advice and CPD suggestions.
Edited to correct the typos
-- Edited by Cheshire on Thursday 11th of May 2017 08:55:03 PM
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
