Westcotts have established a specialist Manufacturing and Technology team, developing a bespoke set of services designed to navigate the pitfalls of finance within the manufacturing and technology sector, including:

Outsourcing

Could some of your back office accounting functions more effectively be outsourced? We can:

• Look at processes in isolation (payroll, VAT Returns, processing transactions and bookkeeping)
• Deliver a package of outsourced functions to fit your requirements
• Prepare regular, meaningful management accounts to help you run your business more effectively

Raising finance and securing grant funding

Securing the right funding at the right time is crucial for any business. We can advise on and assist with all aspects of raising finance, including:

• Bank finance
• Asset-based lenders
• Equity investors (business angels or venture capitalists)
• Grant eligibility

Business plans and financial modelling

Any business looking to grow should have a business plan. We can assist you with the business planning process, converting your plans into financial projections and in turn assessing your likely financial requirements.

International

Considering exporting to extend the market for your product? We are members of PrimeGlobal, the third largest association of independent accounting firms in the world, which has a presence in over 100 countries. We can provide access to expertise and contacts to help support your international expansion.

Taxation

As well as core tax compliance services, ensure you maximise the benefit of various tax reliefs, which are particularly relevant to businesses operating in the manufacturing and technology sector, including:

• Capital allowances
• R&D Tax Credits
• VAT
• Patent Box

Strategic advice & business support

We help you identify and deal with issues your business may face through its lifecycle. Fulfilling the role of non-executive directors to our clients, we bring years of business experience to the table, both in this sector and in other fields.

Reward and incentive schemes

We all face a struggle to keep our best people. Have you considered giving your key people an equity stake in the business? We can advise you on structuring such an incentive scheme in a tax efficient manner.

Personal tax and wealth planning

Are your personal affairs in order to ensure you reach your personal financial goals in as tax efficient manner as possible? Our tax planners, in conjunction with our colleagues at Westcotts Chartered Financial Planners, ensure both owner and business are taken care of.

Succession and retirement planning

Is the time approaching for you to extricate yourself from the business? Westcotts can help with:

• Succession to family members
• Selling the business (to a management team or third-party buyer)
• Ensuring this is done in a tax efficient way