Manufacturing

Our manufacturing clients span the spectrum of the sector, ranging from traditional manufacturers to more ‘cutting edge’ technology companies. 

We understand the unique challenges faced by businesses in the manufacturing sector and have experienced teams across our 24 UK offices who are dedicated to providing tailored accounting and tax advisory services to clients in the industry. 

Whether you're in car manufacturing, jewellery production, electrical equipment, plastics, chemicals, glass or food, we have the expertise to support your manufacturing business. 

We have a good understanding of your commercial environment 

From regulatory uncertainties and rapid technological advancements to climate change impacts and the need for sustainable management practices, we know there are numerous pressures impacting the manufacturing sector, including: 

  • Competitive supply chains: efficiency and cost-effectiveness in your supply chain is more critical than ever.
  • Technological advancements: technological advancements are transforming the manufacturing sector, presenting both challenges and opportunities. Leveraging new technologies to boost productivity and maintain a competitive edge is key to ensuring your business remains profitable.
  • Financial complexities: with increasing costs of many raw materials and labour, managing budgets, inventory and product valuation can be complex.
  • Regulatory compliance: keeping up with changing regulations and standards.

We appreciate there are many complexities surrounding the work you do, and we see our role as being there to support you in ensuring your finances are prepared for the future, allowing you to focus on what you do best. 

Our manufacturing audit, accounting and tax services

Our comprehensive range of services to support our clients in the manufacturing sector range from basic compliance functions, such as annual accounts, audit and corporation tax, to attendance at monthly board meetings, strategic planning, corporate finance and advanced tax planning.

Some of our services include: 

  • Statutory audit services: we provide audit services to many manufacturing clients, from very large global groups to regionally based manufacturers
  • Preparation of accounts: our team can prepare detailed financial accounts to give you a clear picture of your business performance and ensure your financial statements comply with all relevant regulations and standards
  • High value tax support: from guiding you through the ever-evolving minefield of tax legislation to ensuring you have the most efficient structure as you grow
  • Research and Development: R&D claims are increasingly coming under the spotlight, but our dedicated R&D team will ensure any claim submitted to HMRC will meet all of the qualifying conditions and stand up to HMRC scrutiny
  • Management Information: providing you with the insights needed to make informed business decisions
  • Forecasting project costs: helping you plan and manage your project budgets effectively
  • Bookkeeping and payroll Services: Keeping your financial records accurate and up-to-date, and ensuring your staff are paid correctly and on time.
     

We support clients across the spectrum of the manufacturing sector

Our breadth of expertise allows us to bring specialised knowledge and experience to clients in diverse manufacturing areas, from steel and special alloys to innovative technology solutions.

Our clients include, but are no means limited to:

  • Large international manufacturing groups, including a number with overseas listed parent companies 

  • An iconic British sports car manufacturer

  • Metal workers, cutlers, and platers

  • Scissor-makers and pewterware manufacturers

  • Electrical products manufacturing 

  • Medical device manufacturing 

  • Tool manufacturers 

  • Chemical research companies

  • Software design and installation businesses 

  • Businesses in the petrochemical and commodities

Examples of our work in the manufacturing sector 

Our experts have worked with major international brands including global automotive manufacturers, electronic product suppliers and sectors. These are a couple of examples of our work: 

VAT support to a manufacturing client

Acting as the lead indirect tax advisers for a major US corporate client that has registrations across Europe, we provided advice on the treatment of shipments into and across the EU.  

We were able to assist and remove a £500k exposure where a VAT accounting error had occurred, and successfully removed all penalties.  
We are routinely consulted by the US client-side team to confirm the treatment applied to specific transactions, which provides evidence of good governance for HMRC and also management assurance that risk has been mitigated.      

Audit of large manufacturing and industrial group with 50 UK subsidiaries

We provide audit services to this large industrial group with a listed parent company in Sweden. The group comprises of over 200 companies, including 50 trading subsidiaries in the UK with a combined turnover in excess of £500m. 

UHY offices across the UK provide audit services to the UK subsidiaries, working together to ensure the audit process is as straightforward as possible for all entities and bringing a high level of added value. Since our engagement commenced in 2021, we have provided a holistic overview for the UK group, whilst driving standardisation and consistency by maintaining high audit quality standards throughout.

Why work with UHY?

In the fast-paced world of manufacturing, financial stability and profitability are crucial. From optimising budgets to tracking inventory and evaluating product value, our manufacturing accountants are equipped to help you navigate the complexities you face with services that go beyond basic compliance. 

If you are looking to take your manufacturing business to the next level with expert financial guidance, please get in touch using the contact form below and let us know what support you are looking for.

Let's talk! Send an enquiry to your local UHY expert.