Manufacturing & engineering
The manufacturing and engineering sectors in the UK have been subject to a great deal of change over recent years. With rapid shifts in demand, developments in technology and an increasingly competitive and globalised marketplace, businesses need to be more responsive to change than ever before.
Our manufacturing and engineering experts understand the challenges that are faced in dealing with the day-to-day running of a business while trying to build for the future. As experienced advisers to the sectors, we help our clients to run their businesses efficiently, take advantage of opportunities and stay one step ahead in a demanding and dynamic environment.
First Accountant provides a range of accounting and business advisory services. Additional services relevant to the manufacturing & engineering sector include:
We recognise that each valuation is unique and not a simple numbers exercise. We provide valuation services in relation to acquisitions, disposals, mergers, disputes and restructuring. We also assist with financial reporting matters, such as purchase price allocation (PPA), impairment testing and the valuation of financial instruments such as share options.
Financial due diligence is a critical aspect of transaction planning as it can affect the purchase price for a business or even the decision whether to proceed. Our approach is to provide peace of mind by identifying all the critical factors for which an informed decision can then be made.
Our team has strong relationships with a wide range of potential funders including banks and alternative lenders, private equity, venture capital, mezzanine debt providers and high net worth individuals. We add value by providing independent advice on the most appropriate sources of funds, attracting and negotiating the best terms for our client, and project managing a robust process.
R&D tax relief allows companies to substantially uplift qualifying costs for tax purposes so that taxable profits can be reduced. Many companies have already claimed R&D tax relief to some extent and some of these companies may even have had a visit from specialist tax inspectors as a result of the claim. However there is often more that can be claimed and our team of engineers and accountants can provide a second opinion.
The governments new Patent Box regime, designed to encourage innovative businesses in the UK, came into force from 1 April 2013. It will allow companies to apply a 10% corporation tax rate to worldwide profits generated from the exploitation of patents granted in the UK or Europe.
Our outsourcing one-stop-shop allows any size of business to outsource some or all of the business, financial and administrative functions, in order to free up valuable resource and reduce costs. These services include accounting systems & software, annual financial & FCA reporting, bookkeeping & accounting, company information & secretarial, employers consulting & payroll, tax & VAT compliance and wealth management.