Core Services for Manufacturing and Engineering Firms
Services for Manufacturing & Engineering
Specialist manufacturing accountants driving efficiency and growth.
Cost & Inventory Bookkeeping
Robust bookkeeping tracking raw materials, work-in-progress (WIP), finished goods, and cost of goods sold (COGS).
R&D Tax Credits
Identifying and preparing Research & Development (R&D) tax relief claims for innovative products and processes.
Annual Accounts & Audit
Accurate statutory accounts preparation and audit support designed to satisfy lenders, stakeholders, and suppliers.
Capital Allowances
Maximising tax deductions on factory machinery, assembly lines, tooling, and energy-efficient plant investments.
Gross Margin Analysis
Providing regular management accounts that break down product lines, labor efficiencies, overheads, and gross margins.
ERP & Inventory Software
Integrating cloud accounting software with inventory and MRP systems to provide real-time cost tracking.
How We Help Manufacturing and Engineering Firms
Real-time tracking of raw materials, work-in-progress, and stock valuations
Successful R&D tax credit claims for process and product innovations
Clear gross margin analysis by product line to identify true profitability
Maximised capital allowances on machinery and factory facility upgrades
Frequently Asked Questions
What counts as qualifying R&D for manufacturing and engineering?
R&D tax relief is not just for scientists in white coats. If you are developing new products, improving manufacturing processes, reducing material waste, or solving technical uncertainties, you likely qualify. We can assess your activities and compile a robust, HMRC-compliant R&D claim.
How should we value our Work-in-Progress (WIP) at year-end?
WIP must be valued at the lower of cost and net realisable value, factoring in raw materials, direct labor, and a systematic allocation of production overheads. We help you establish accurate stock-taking processes to ensure your year-end accounts are fully compliant and realistic.
What is the Patent Box scheme, and can we benefit?
The Patent Box scheme allows UK companies to apply a lower 10% rate of Corporation Tax to profits earned from qualifying patented products or processes. If your manufacturing or engineering firm holds patents, we can help you structure your income to take advantage of this relief.
How do capital allowances apply to factory renovations?
While general building structures do not qualify for plant and machinery allowances, specific installations such as electrical systems, heating, ventilation, and specialist machinery foundations do. We perform detailed capital allowance reviews to maximise your immediate tax deductions.
How can management accounts help us manage seasonal manufacturing cash flow?
Our monthly management accounts provide detailed cash flow forecasts, break-even analyses, and working capital tracking. This helps you manage cash constraints when purchasing raw materials ahead of peak production seasons, ensuring your factory runs smoothly year-round.
Talk To Us
We are here to make business feel clearer and easier, starting with a simple conversation. Whether you need a new accountant, specialist advice or wider support from the Nuvo team, we would love to hear from you.