Manufacturing is at the heart of the South West economy. The UK relies on around 8,500 small and medium-sized manufacturing companies in our region. Between them they drive job creation and innovation as part of a sector responsible for a tenth of the value of all goods and services produced in the UK.
At Milsted Langdon we work with a large number of manufacturing clients, who 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 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
- The Patent Box initiative: Patent Box allows companies to pay 10 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: We can assist manufacturing businesses considering major projects or changes, including 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, for example by 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, we assist manufacturing clients in the development of export strategies designed to maximise the value of doing business abroad
- Improving management information: We can advise you on developing systems that deliver the right data to inform decision-making and drive growth
- Mindshop consultancy: Export support to assist your business with strategic planning and business improvement projects
- Worldwide expertise: As a member of MGI Worldwide, an international network of independent accounting and consulting firms, we are able to add further value to our in-house services by giving you 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 both personal and corporate financial planning strategies, from protecting personal wealth to assistance with auto-enrolment and other workplace pensions issues
Many of our manufacturing and technology clients also rely on us for help with 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 manufacturing and technology businesses in the South West and beyond please contact us.