Five members of a criminal group that pocketed millions of pounds in unpaid taxes, including from construction companies, have been jailed. The gang created several fake labour supply companies to keep VAT payments and pocketed £22m of tax deductions from subcontractors that were meant to be paid under the Construction…
Collapsed offsite specialist Kingston Modular Systems was unable to pay its debts after a dissatisfied client withheld £585,000, according to administrators. A report by an administrator from Westgates Restructuring said that the Hull-based company, which went into administration in September, experienced a slowdown during 2024 due to delays in securing…
Creditors of Coventry-based contractor are set to lose out on a combined £5.9m, it has been revealed. A new report by administrators at Horsfields published on Companies House this week said that the company, which went under in September, owed the sum to 227 trade and expense creditors. It also…
The Building Safety Regulator (BSR) was warned about the financial health of Assent Building Compliance more than four months ago, Construction News can reveal. A source with knowledge of the company attempted to contact the regulator in the summer, urging it to look into Assent’s financial strength, but did not…
Nearly half of construction workers admitted taking safety shortcuts while working at height to ensure they got a job done on time, according to a new survey. Around a fifth said they had not received any training on how to work at height safely, while one in seven believed their…
Construction is in its longest period of decline since the financial crash of 15 years ago, according to the latest purchasing managers’ index (PMI) data. The S&P Global index for October registered 44.1, down from 46.2 in September. A number below 50 shows industry activity is contracting. October was the…
Construction leaders fear a hike on taxes in chancellor Rachel Reeves’ Autumn Budget will impact housebuilding and growth for years to come. Their comments come as Reeves today (4 November) made a speech in which she failed to rule out personal tax rises when she unveils the Budget on 26…
Competition authorities have confirmed their investigation into possible market collusion by housebuilders has been dropped in return for a payment of £100m towards affordable homes and other measures agreed by the companies involved. Yesterday (30 October), the Competition and Markets Authority (CMA) announced its acceptance of four “binding commitments” from…
The number of construction companies in “critical” financial distress has soared in the past 12 months, according to an insolvency specialist. Begbies Traynor said that the number of construction sector firms in its worst financial category rose to 7,361 in the third quarter (Q3) of 2025, compared with 4,324 at…
The risks of modern slavery in the housebuilding sector are “poorly understood” despite its size and political importance, a new report says. Residential accounts for around 40 per cent of UK construction output, but academics from King’s Business School found that the housebuilding sector is is often excluded from research…
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