Engineering & Manufacturing
Scotland’s engineering and manufacturing sector has experienced something of a roller coaster ride over recent years, with UK and export orders rising and falling on an almost quarterly basis and forecasts varying from a stagnant order intake to encouraging signs of an imminent recovery with output volumes set to increase.
With extensive experience of working with clients in the engineering and manufacturing sectors, French Duncan has been there for its clients to help negotiate every dip, bend, bump and climb of the ride.
Working with our traditional manufacturing client base throughout central Scotland, we have built up an expertise in understanding standard costing; absorption costing and other areas of accounting estimation used in the production of a wide variety of industrial products.
We can assist in evaluating the accuracy of such systems and assessing the appropriateness of management accounting systems for the production of information for statutory accounts purposes.
Our skills include a detailed understanding of how to account for long term contract work in progress in both management information and statutory accounts.
Having worked with many businesses in the fabrication and advanced technology sectors, in recent years we have also helped several clients present cases to HM Revenue & Customs regarding the acceptability of their stock recording and costing systems for corporation tax purposes.
Our dedicated tax professionals can assist in maximising capital allowance claims and we have enjoyed considerable success in working directly with surveyors and consulting engineers at the planning phase of capital projects for manufacturers to ensure that opportunities to maximise tax relief at the earliest opportunity are realised.
Our research and development tax team understands the continuing product development required for commercial success and has an excellent record of maximisiing the tax reliefs available within the sector.
Our advisors can also contribute to new projects through assisting in the application for Regional Selective Assistance grants.