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Menzies LLP - A leading charteredaccountancy firm. Innovation – as this is integral to the continued success of UK manufacturing. Committing over £2 billion in R&D and Capital funding over 5 years to support the automotive sector, including the zero emissions vehicle manufacturing sector and supply chain.
Menzies LLP - A leading charteredaccountancy firm. Carbon output Labour have declared an initiative which would see £500m of funds available annually from 2026 to act as an incentive for manufacturers developing clean energy and investing in good jobs. The conservatives have committed to investing £1.1
Menzies LLP - A leading charteredaccountancy firm. We’re eagerly anticipating the forthcoming Autumn Statement and the potential policy changes that could benefit the UK manufacturing industry. Find out more about our Manufacturing services here. What are our key recommendations?
Menzies LLP - A leading charteredaccountancy firm. Whilst in some key policy areas it remains to be seen what practical changes will apply to businesses in the manufacturing space, there is no doubt that the sector will be impacted by a wide range of policies.
Menzies LLP - A leading charteredaccountancy firm. Andrew England highlights what we could expect from the Chancellor’s Spring Budget 2024 this year, and what could benefit the Manufacturing sector. What could we expect to see from the Spring Budget 2024? jobs in the sector).
Menzies LLP - A leading charteredaccountancy firm. Read on if you and your manufacturing company falls into one of the following categories: – For manufacturing companies investing in significant pieces of plant and machinery can be key to driving business growth. Where the asset is an integral feature (e.g.
Menzies LLP - A leading charteredaccountancy firm. Research and Development (R&D) tax relief is a highly valuable relief to promote and reward attempts by companies to achieve advances in scientific or technological fields or appreciable improvements in associated processes. Tax saving increases by up to £2.80
Menzies LLP - A leading charteredaccountancy firm. This new allowance enables companies to claim a 100% deduction for tax purposes in the year of spend on particular capital investments. For example, consider a company that has a corporationtax liability of £1 million for the 12-month period ending on 31 March 2024.
Menzies LLP - A leading charteredaccountancy firm. For example, legal invoices might show intellectual property assets, that could’ve been leveraged using Patent Box Relief to reduce the client’s corporationtax liability. In other cases, the audit team might realise that they have missed a financial opportunity.
Menzies LLP - A leading charteredaccountancy firm. Growth forecast cut dampens outlook The halving of the OBRs 2025 growth forecast from 2% to 1% is unwelcome news for manufacturers, signalling a sluggish economic environment ahead. The lack of acknowledgement of their impact is disappointing.
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