Manufacturing Accounting
UK manufacturers face complex accounting around work-in-progress (WIP) valuation, standard costing, capital allowances on plant and machinery (including the Annual Investment Allowance and full expensing), customs duties post-Brexit, and R&D Tax Relief claims for product development. Energy-intensive industries may also qualify for Climate Change Levy (CCL) exemptions.
Our manufacturing accounting services cover job costing, WIP tracking, inventory valuation methods (FIFO, weighted average), capital allowance claims, import/export duty management, R&D Tax Relief applications, and Corporation Tax planning. We help manufacturers maintain accurate cost accounting while maximising available tax reliefs and allowances.
What's Included
Comprehensive services tailored to your industry needs
Industry-Specific UK Expertise
Key UK Challenges
Complexities you face
- Valuing work-in-progress (WIP) correctly under FRS 102 including materials, labour, and appropriate overheads
- Tracking raw materials, components, and finished goods inventory across multiple production lines
- Claiming full expensing (100%) and Annual Investment Allowance on qualifying plant and machinery
- Managing customs declarations and tariff classifications on imported raw materials post-Brexit
- Identifying qualifying R&D expenditure in product development and process improvement activities
- Complying with Climate Change Levy (CCL) obligations and claiming available exemptions
Tax Considerations
HMRC rules & reliefs
- Full expensing — 100% first-year relief on qualifying new plant and machinery (main rate assets)
- Annual Investment Allowance — 100% deduction on up to £1 million of qualifying capital expenditure
- R&D Tax Relief — enhanced deductions for qualifying product development and process innovation costs
- Climate Change Levy — reduced rates available through Climate Change Agreements for energy-intensive manufacturers
- Customs duties — correct tariff classification critical for import cost management post-Brexit
- Corporation Tax — 25% rate with marginal relief for profits between £50,000 and £250,000
How We Help
Our tailored solutions
- Job costing and WIP valuation systems for accurate product profitability analysis
- Capital allowance claims maximisation including full expensing and AIA
- R&D Tax Relief claims with technical narratives for product development projects
- Customs duty management and correct tariff classification for imported materials
- Management accounts with production cost analysis and variance reporting
- Corporation Tax planning including group relief and loss utilisation strategies
Ready to Simplify Your Manufacturing Finances?
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