Thank you.

Very comprehensive and good advice about the cash.

Thanks again.

Firstly and most importantly use a standard contract and get a copy of insurances.

£50k is actually minor works.

Up to 10% upfront is normal anything more is excessive. Unless there are special order non returnable items.

Then pay as per sections of work completed.

Retentions, in standard contracts are now around 3% down from the 5% they used to be.

Please do *not* use cash as it disadvantages the rest of us trying to run legit construction companies. It is still a total pain as we get undercut and then discover that it is the ‘cash merchants’ obvs the cash never goes through the company so VAT, CIS and CT are never paid on this monies.

It used to be a joke in Canary Wharf that on a Friday queues of men in finance were in the bank taking out huge amounts of cash.

We've some significant work being done on the house, approximately fifty thousand pounds, and I would welcome advice for those who have been through it on the financial side of dealing with builders.

How do people pay builders these days? In the old days it was cash but now that is much harder to do and I'm not sure I'd even want to.

Also how do you structure payments? Is it a % up front and how much do you hold back till the very end? Also what is the very end? Do you wait a bit for things to go wrong?

Thank you.