Manufacturing and Engineering

Having worked for many years with a wide range of manufacturing and engineering clients, our specialist team have first-hand experience and understanding of the current issues within the manufacturing sector.

Why choose Duncan & Toplis?

Our proactive approach and expertise means that we are able to keep clients one step ahead of the issues that may affect them. These include:

  • Annual Investment Allowance
  • Audit / assurance
  • International support
  • Payroll
  • Research and Development Tax Credits
  • Shortage of skills and succession plans
  • Tax returns

Research and Development Tax Credits

Are you aware of the UK Government’s Research and Development (R&D) tax credit scheme, designed to encourage innovation by providing financial incentives to companies engaged in innovative activities in the fields of science and technology?’ Read more about this in our Research & Development Tax Relief flyer.

International support

For advice on export and import issues at this uncertain time, our membership of Kreston International, enables us to extend our manufacturing and engineering accountancy services across borders. Whether you need an answer to a foreign tax question or advice on opening an overseas subsidiary, the close relationships we enjoy with our Kreston counterparts will ensure you receive a timely response.

We’re here to help

Our services spanning the manufacturing and engineering sector range from audit/assurance and tax returns, to payroll and financial management. Get in touch today to find out how we can assist you and your business.

Annual Investment Allowance

The Annual Investment Allowance enables UK businesses to write off 100% of the cost of newly acquired assets such as plant, machinery, equipment & commercial vehicles in the first year of ownership. The amount of the allowance has been subject to regular changes since its introduction in 2008 and is currently increased to £1m for 2 years from 01 January 2019. As manufacturing is a capital-intensive industry, this increase in the AIA threshold significantly helps productivity, but timing of expenditure is important for tax planning and therefore businesses are advised to seek advice from a specialist in tax planning for the sector.

Shortage of skills and succession plans

Due to the nature of the industry, the need for highly-skilled workers is at an all-time high, and the existing gap between the level of qualified workers entering the industry and actual demand is only set to increase. To accommodate this, succession planning is required to ensure that jobs are filled as employees retire from the profession over time. For this reason, it is important that manufacturing and engineering organisations seek proactive advice from an accounting firm that understands the complexities within the sector, to ensure that the right planning is in place to address such major issues. Our manufacturing accountant team has extensive experience within the sector, and will help you every step of the way.