Manufacturing is clearly at the heart of the southwest economy as around 8,500 SMEs in the region are the key drivers for job creation and innovation. They belong to a sector that is responsible for a tenth of the value of all goods and services produced in the UK.
Milsted Langdon has particular expertise in working with manufacturing clients. They benefit from our extensive tax, accountancy and business development expertise as well as our close links with organisations including the government-backed Manufacturing Advisory Service, now part of the Business Growth Service, and Business West.
Our services include:
- research and development (R&D) tax credit claims
To date, we have helped clients recover more than £1.5 million in R&D tax credits for their innovative work to advance science and technology. As well as assisting with claims, we can advise on improving record-keeping so that all eligible expenditure is claimed for
- the Patent Box initiative
Patent Box allows companies to pay ten per cent corporation tax on worldwide profits arising from patents and other intellectual property (IP). We can provide expert advice on all aspects of Patent Box, including its interaction with R&D tax credits
- corporate finance
For manufacturing businesses considering major projects or changes, including through buying or selling a business, raising additional finance for investment or growth or preparing for a change in leadership through succession planning
- comprehensive tax advice
Alongside tax compliance services, we can assist manufacturing clients on strategic planning to maximise corporate tax efficiency, such as making the most of capital allowance claims for investment in plant and machinery and tax-efficient remuneration
- VAT and international tax issues, as part of our broader specialism in cross border and international trade, to assist manufacturers in developing export strategies designed to maximise the value of doing business abroad
- improving management information
Our Business Innovation team advises on developing systems that deliver the right data to inform decision-making and drive growth
- worldwide expertise
As a member of MGI, an international alliance of independent accounting and consulting firms, we are able to add further value to our in-house services through access to local knowledge and expertise in MGI firms around the world
- independent financial advice
The team at our sister firm, Milsted Langdon Financial Services, can assist with personal and corporate financial planning strategies, from protecting personal wealth to assistance with auto-enrolment and other workplace pensions issues
We can also assist with issues including budgeting, forecasting, financial projections, cash flow management, credit control, optimising stock control, job costing and product pricing, business structures and restructuring.
For more information on how we can assist your manufacturing business, please contact us.