Manufacturing

  1. Sectors
  2. Manufacturing

We at Sowerby have a strong background as manufacturing accountants and are well practiced at helping these businesses maintain margins and sustain their competitive edge. The experience of our manufacturing team, as well as their industry knowledge, enables us to tailor our services to provide practical solutions to issues specific to this sector.

Toll manufacturing is a great way to improve efficiencies while keeping costs low. The arrangement, which sees a third-party company (with specialised equipment) process raw materials or semi-finished goods for the original entity, is becoming more prevalent every day. Especially in combination with emerging market countries.

 

In countries such as Brazil, Russia, India and China, toll manufacturing can allow a company to save costs by outsourcing functions to highly specialized service providers in lower cost jurisdictions.

 

We at Sowerby recognise that toll manufacturing can save your company a lot of time. It is not without its risks, however, with much depending on the efficiency of the third party. Sowerby can support you in learning more about toll manufacturing and looking at the practical, contractual and due diligence before an agreement of this type is reached.

Engineering is a key sector in the local economy, and our involvement within it stems from an enviable client base of local manufacturing and engineering businesses.

Sowerby is well placed to keep track of the issues facing this ever-changing sector, where risks develop and become more prevalent every day. Our manufacturing team is adept at managing the following issues:

The current trend of data exchange and cloud computing pushes the manufacturing sector into an age of numerous opportunities and obstacles. At Sowerby, our sector focus allows us to keep our clients up-to-date with the changing information and manufacturing landscape.

 

Our advice and assistance will help guide you through Industry 4.0 with all that entails, including research and development and Parent Box claims.

Continued investment is essential for keeping up with the technological advancement we are witnessing in the manufacturing sector. Sowerby can support you in finding the right solution to your funding needs. We work with you to locate the most tax efficient source of investment capital; recommending providers who balance advice, the right scale of funding, competitive interest rates and acceptable security.

 

We can also assist you in claiming maximum capital allowances on investment and minimising your tax liability. Through our industry links we will guide you towards the growing number of grant opportunities available in the local area.

Manufacturing roles require numerous specialist skills and it is often the recruitment, training and retention of dependable staff that can occupy management’s valuable time. Our manufacturing team can help you monitor and manage the financial impact of a growing staff structure.

 

We also offer a full payroll service. For details please see our payroll pages.

The food and drink sector offers opportunities for companies to grow quickly – we see this in the increasing pattern of mergers and acquisitions throughout the industry.

 

At Sowerby, our experience in this industry spans from growers to producers and we have thorough knowledge of the role manufacturing plays.

 

We can be on hand to help you navigate growth, raising finance and will always offer sound strategic advice. With all the fluctuations in the market based on factors outside of your control, Sowerby can offer experience and extensive support.

Our partners have great experience in working closely with international manufacturing businesses. Upcoming changes due to the Brexit vote will increase the complexity of trading with European countries, and Sowerby’s expertise will be of critical importance.

 

We will work to provide you with high-quality advice and professional support as you navigate the VAT, Corporation tax and foreign exchange implications.

Our services are individually tailored on a client by client and sub sector basis but generally include the following

 

Annual

  • Timely preparation of your annual accounts with benchmarking.
  • Audited accounts if required.
  • Preparation and presentation of quarterly or monthly management accounts.
  • Preparation of projections and cashflow forecasts.
  • Provision of book-keeping and payroll services

 

Strategic Assistance

Advice and assistance on:

 

  • Securing finance
  • Capital investment options
  • Cloud accounting
  • Retirement and succession planning
  • Supply chain management
  • Cyber Security
  • Manufacturing options
  • Mergers and acquisitions

 

Taxation

  • Import and export rules and requirements for VAT and Corporation tax
  • Review tax position and advice on tax planning
  • Assistance with research and development claims
  • Review of capital allowance position and capital gains calculations

We have a large number of clients in this sector, and as such there is a large amount of data at our disposal which allows us to help our clients and their businesses very effectively. We at Sowerby can provide a detailed benchmarking service to review the performance of our business against hundreds of others in the same sector.

 

Needless to say, benchmarking is carried out without jeopardising confidentiality.

Should you require any further information please contact:

Elizabeth Blanchard

emb@sowerby-llp.co.uk

Andrew Easton

ade@sowerby-llp.co.uk

Patrick Scargill

pss@sowerby-llp.co.uk

Richard Skewis

rds@sowerby-llp.co.uk

Adrian Allen

ama@sowerby-llp.co.uk

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