As an industry that underpins the UK’s economy, our expert accountancy team understands the numerous challenges and opportunities faced by the manufacturing and engineering sectors.
Manufacturing and engineering businesses strive to maintain margins and compete effectively in an intensely uncertain and pressurised environment. They are subject to several uncontrollable factors including cost pressures, interest rates, exchange rates, market fluctuations and employment levels.
We can assist manufacturing and engineering clients with:
- Budgeting, forecasting and managing cash flow, particularly through interest rate and exchange rate fluctuations
- Financial due diligence advice
- Minimising risk with pricing and supply fluctuations
- Optimising stock control through the use of tailored systems
- Implementing systems to maximise efficiency
- Import and export issues, including foreign currency transactions and customs duty
- Strategies to reduce energy and utility costs
- Acquisitions, mergers and disposals
- Raising finance for expansion, new machinery or equipment
- Research and development tax credits, capital allowances tax relief and the new patent box regime
- Tax efficient investment planning
- Succession planning and exit strategies
Since its inception in 2000, Champion Accountants has supported clients through the Research and Development (R&D) tax relief scheme. Designed to support businesses working to make advancements in their field, many manufacturing and engineering companies unknowingly qualify for the scheme.