Manufacturing, once the backbone of the Welsh economy, is now one of the most volatile sectors in the UK, captive to many external factors beyond its control such as currency values, cheap overseas labour, interest rates and strong global competition.
We work closely with our manufacturing clients on their taxation, financial and strategic issues to counter this volatile sector. Whether it is making a claim for R&D costs, explaining Capital Allowances or understanding the new Patent Box regime or indeed, managing the business owner’s personal tax needs, we’re here to help.
- Tax planning and corporate restructuring
- Understanding and claiming Research & Development Tax Credits
- Understanding and profiting from the Patent Box scheme
- Assisting with routes to finance through our large network of bankers, invoice financers, grant makers etc
- Helping you to develop an export strategy
- Minimising risk from pricing and supply fluctuations
- Optimise stock control
- Make important investment decisions
- Planning for mergers and acquisitions or disposals
- Corporate finance advice, including strategic acquisitions
- Managing cash flow through interest and exchange rate fluctuation
- Helping you trade abroad through our independent membership of Baker Tilly International
At MHA Broomfield Alexander we have considerable experience in this sector and this, together with the accumulated experience of our colleagues in MHA, means that we are well positioned to advise our clients.
The most recent MHA Manufacturing & Engineering Survey Report 2016, highlights the need for government support for the sector and provides insightful case studies and statistics to support the findings of the report, as well as key findings from Wales and Welsh SMEs.
MHA Broomfield Alexander is also an independent member of Baker Tilly International, a network of independent accountancy and business advisory firms.
Meet the team
MHA Broomfield Alexander acts for a wide range of clients in the Manufacturing and Engineering sectors ranging from small to large manufacturers, as well as importers of manufactured goods. With our partner led service and strong tax offering, we build strong relationships with our clients and take a team approach.
Manufacturing Sector Team lead – Ian Thomas, [email protected]
(Specialist Manufacturing and Engineering Team left:right, Mike Fenwick, Ian Thomas, Denise Roberts)
Case Studies Related to this Sector
Since 1996, the company has been supplying design services and embedded processing systems to its client base worldwide. The company has grown to cover all aspects of the electronic solution including hardware, operating system and application software development.
Our client is part of an international group manufacturing and distributing mobility and healthcare products. Some of the international product manufacturing is outsourced and the Welsh operation put forward its proposal to the group to bring the manufacture of a particular product in house. Bringing the manufacturing here to Wales requires investment in capital equipment and new jobs.
Fillcare is a market leading third party cosmetic manufacturer based in Talbot Green and has developed to produce hair care and styling products for L’Oreal as well as other major brands.
Lenstec Optical Laboratories is a leading South Wales based supplier of lenses and eyewear to independent opticians across the UK. Lenstec has built a successful business providing surfaced lens and finished glasses for general wear, as well as high-performance sports use, to opticians in the UK.