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Manufacturing News

Manufacturers and engineers need a high level of technical expertise and skill - so do their accountants

What businesses need to know about the new GDPR

The General Data Protection Regulation (GDPR) is set to come into force from May 2018. It will replace the current Data Protection Act and is the biggest overhaul of data protection legislation for over 25 years. GDPR will change the way organisations...

Input Tax – Beware of the pitfalls!

VAT expert Tony Nickson outlines the pitfalls to avoid when reclaiming input VAT. 1. Reclaims for purchases made before VAT registration It is important to ensure that the maximum amount of input VAT is reclaimed on your business expenditure. This includes...

R&D tax incentives – don’t miss out!

Research and Development (R&D) tax incentives can provide additional tax deductions and enhanced cash flow for companies that develop new products, processes or services. Although widely available, many companies wrongly believe they are not eligible for R&D tax...

Boeing to open new manufacturing factory in Sheffield

It was recently announced that Boeing are to open a new factory, and the first in Europe, in Sheffield, and will be built alongside the University of Sheffield's Advanced Manufacturing Research Centre (AMRC). Boeing are to work with AMRC to develop manufacturing...

The Election result: What are the tax implications?

The general election has ended in a hung parliament – the Conservative party have the most seats but do not have an overall majority. Theresa May has announced that she will form a government with the support of the Democratic Unionist Party (DUP). What does this...

Five ways technology could improve a small business

For small businesses, keeping up with all the latest technology can be a difficult task with the speed it moves at. From embracing augmented reality; to making use of 3D printing, we take a look at five ways different technologies could benefit your business. 3D...

Business rates increase 2017/18

As of 1st April 2017 business rates have increased. In this article we will discuss what business rates are, what has changed, what the government announced in the Budget in order to ease the strain of the increase and whether you can appeal the business rates...

UK workers at risk as AI and robotic technology advances

Millions of UK workers - mainly those who work in retail and wholesale - are at risk from breakthroughs in AI and robotics, a recent report finds. In the next 15 years, 10 million or more UK workers could be at risk of being replaced by robots as the automation of...

Manufacturing 2017 Budget review and analysis

The Chancellor Philip Hammond presented the last Spring Budget on Wednesday 8 March 2017. In his speech the Chancellor was keen to point out that he wanted the tax system to be fair, particularly in relation to the distinction between employed and self-employed...

Renewable Energy

Anaerobic Digestion (AD): Biogas Renewables have grown rapidly in the last 10 years, mainly because of public financial support. However, the cost to the Exchequer has seen support levels cut over the past few years. Actual renewable energy was 8.3% in 2015 compared...

Small business 2017 Budget review and analysis for SMEs

The Chancellor Philip Hammond presented the last Spring Budget on Wednesday 8 March 2017. In his speech the Chancellor was keen to point out that he wanted the tax system to be fair, particularly in relation to the distinction between employed and self-employed...

Apprenticeship Levy: Not long to go

The new Apprenticeship Levy will be launched in April 2017. We look at what this is and who will be affected by the government's new levy. What is the Apprenticeship Levy? First of all, only employers with a wage bill of over £3m will be affected by the Apprenticeship...

Tax Rates and Allowances 2017/18

Tax Rates and Allowances 2017/18 Many of the tax rates and allowances are fundamental to our business and personal lives and the most important ones for the 2017/18 tax year are summarised here. We are sure that you will find it a useful point of reference throughout...

Manufacturing Autumn Statement 2016 review

Philip Hammond delivered his Autumn Statement on Wednesday 23rd November 2016. His speech set out both tax and economic measures the government will implement. In this article, we summarise the key points arising from the Autumn Statement and focus on what the changes...

The Autumn Statement 2016 predictions

The Autumn Statement 2016 on Wednesday is set to be an important event.  It will be the Chancellor’s first opportunity to outline his plans for taxes & spending in the wake of the Brexit vote. But what tax changes can we expect in the upcoming Autumn Statement?  Craig...

Technological advancements in the manufacturing sector

The manufacturing sector is going through a technological revolution, with more and more businesses taking the plunge into investing in new technology. In this article, we look at the technologies that could have the greatest impact on factory environments. It is...

Manufacturing and engineering suffering skills shortage

According to an industry report, struggling to recruit skilled workers is one of the sectors key issues currently and, as a result, Britain's manufacturers are struggling to keep pace with global technology. Productivity growth will continue to be put at risk if a...

Grants for food and drink manufacturers in the East Midlands

Grants for food and drink manufacturers have been made available by 'The Food and Drink Forum' along with the FEAST project. 'The Food and Drink Forum' has secured funding for the next three years which offers a range of useful services. What are these services? There...

Avoiding Grant Gremlins

Grant audits and examinations can be highly technical, specialised, and subject to very detailed reporting requirements and specified work programmes. Below we highlight 6 practical points to help you avoid those 'Grant Gremlins' that can cause hold ups in reporting...

New polymer banknotes start circulation with £5 note

The 13th September marked the first day of the brand new polymer banknotes being issued. The £5 note is the first of the banknotes to be launched in England and Wales. The polymer made banknotes are much more durable than the old banknotes and can withstand getting...

Reminder: National Minimum Wage to rise again October 2016

This article is a short reminder that National Minimum Wage will increase from 1 October 2016, following the Government's decision to accept recommendations from the Low Pay Commission (LPC) earlier this year. The main National Minimum Wage rate (for 21- 24 year olds)...

UK manufacturing challenges in 2016 – including Brexit

This article summarises some of the key challenges facing UK manufacturers in 2016. Brexit and exchange rates It is difficult to predict what may happen over the coming months and years following the UK’s vote to leave the European Union – a lot of questions remain...

R&D Tax Relief – the perfect time to claim

Research and Development (R&D) Tax Relief can provide additional tax deductions and enhanced cash flow for companies that develop new products, processes or services. Although widely available, R&D claims are often overlooked, and many companies that would be eligible...

Brexit: tax implications as the UK votes to leave the EU

From the argument over selling bendy bananas to the threat of an emergency Budget, the EU referendum campaign has undoubtedly had its share of the headlines over the past couple of months. The biggest headline now though is of course that the UK has voted to leave the...

£17m funding available for training in the Sheffield City Region

Do you know about the new Skills Bank for the Sheffield City Region? The Skills Bank is a government/LEP initiative aimed at workforce training and development in the Sheffield City Region. It is a £17m fund - new for 2016 - comprising of funding from the European...

New EU GDPR rules – 12 things you should be doing to prepare

After over four long years of political processes, detailed discussions and business lobbying, the final text of the new EU General Data Protection Regulation (GDPR) rules was released in April 2016. As nearly all businesses and other entities use some form of...

Expenses exemption to replace dispensations from 6 April 2016

Are you aware of the changes to dispensations? In the past, many businesses have applied to HMRC for dispensations. Dispensations have allowed expenses and benefits to be provided to employees without being included on a P11D or subject to PAYE and NIC. A dispensation...

Commercial Stamp Duty Land Tax changes from the 2016 Budget

Are you aware of the commercial Stamp Duty Land Tax changes that were announced in the 2016 Budget? In "a Budget that backed small businesses" (according to the Chancellor), one of the welcome reforms for businesses and entrepreneurs were the commercial Stamp Duty...

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