Manufacturing & Technology
Building a stable foundation for your business.
In spite of globalisation and increased competition from low cost base countries, the UK continues to be a centre of excellence in precision engineering, technical innovation and niche manufacturing.
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:
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.
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.
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
- 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
Whoever you are, wherever you are, whatever you want to achieve. With more offices in the South West than any other firm, we’re always on hand to offer face-to-face advice, opening doorways to a whole world of specialisms and services which are available to all of our clients whenever they need them.
To find your nearest office or get in touch with one of our specialist advisers, please go to our contact us page.
Bridgwater is the fifth largest town in Somerset and a major centre for industry and manufacturing in the South West which has seen significant growth in recent years. Kelly Davies, Partner with Westcotts in our Bridgwater office examines whether it’s boom time for the town… You would be forgiven for thinking that there’s not much29/06/22
A knock on the door opened up an opportunity for two well-established local property firms to build a future together. Angus Watson, Director at letting agents Aspen Property Management Ltd in Cullompton, Devon, was working in his office when John Parkin, a director at nearby estate agency Thorne and Carter called in to ask about30/06/22
Leading South West accountancy firm Westcotts Chartered Accountants today announced it is further investing in its growth through the acquisition of Bridgwater-based Sully & Co Chartered Accountants. With a team of ten, Sully & Co is an established local firm and has served businesses and individuals in and around the town since 1865. The Sully29/06/22