As accountants and tax advisers specialising in manufacturing and engineering, we have in-depth knowledge of the key issues facing this sector. We are able to offer advice and guidance to ensure our clients succeed.
In particular, we understand the challenges those operating in the sector face, which include:
- The security of supply and cost of energy
- Training and retaining skilled labour/key personnel
- Price volatility and increased raw material costs with often an inability to pass on cost
- Gross profit margin pressures
- Financing new equipment
- Debtor book finance
- The need to drive innovation
- Increased competition from Asia, China and India
- Improving productivity in relation to overseas competition
- Customer consolidation and rationalisation
- Lack of awareness of and use of tax incentives for the sector
- Lack of awareness of support and schemes to help manufacturers
- Environmental issues and compliance costs including carbon emissions, wastage levies and directives
- Re-shoring of manufacturing to the UK
- Our work for manufacturing and engineering clients includes:
- Audit and Accountancy
- VAT planning and consultancy
- VAT for international trade
- Payroll and Auto-enrolment
- Director remuneration planning
- Accounting systems and software
- Research and Development (R&D) tax credits
- Patents Box
- Capital Allowances
- Annual Investment Allowance
- Employee share schemes
- Seed Enterprise Investment Schemes (SEIS)
- International trade
- Business acquisition and disposal
- Business advisory services
- As part of our work in support of the sector, we have links with:
- UK Trade and Investment (UKTI)
- UK Export Finance (UKEF)
- Manufacturing Advisory Service (MAS)
- Growth Accelorator Programme
For more information on how we can help or for a free initial consultation, please use the contact form below.
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