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UK economy accounting

The automotive industry is a vital part of the UK economy accounting for more than £77.5 billion turnover and £18.9 billion value added.

With some 169,000 people employed directly in manufacturing and in excess of 814,000 across the wider automotive industry, it accounts for 12.0% of total UK export of goods and invests £4 billion each year in automotive R&D and is clearly among the UK’s key sectors.

Economic conditions have caused a marked drop in the value of used vehicles, whilst UK car production reached its highest level in 17 years in 2016, there were also records broken in the used car sector, with more than 8 million being sold in the same year, a new UK record.*

Our team of dedicated experts is particularly well placed to help small and medium sized garages and dealerships to manage a wide spectrum of financial management issues.

Our highly approachable, partner-led teams build productive interpersonal relationships with our motor trade clients. We use our sector knowledge to deliver market-facing advice that enables clients to sharpen their competitiveness, improve their cash balances and raise performance.

Our innovative solutions draw together specialist advisers from our tax, audit and business advisory teams. They produce professional support packages that are geared to the needs of individual clients, whether they are running a motor servicing operation or a sales forecourt.

Practical advice from seasoned specialists includes:

  • Strategic planning
  • Raising finance
  • PAYE
  • VAT
  • National insurance
  • Pensions
  • Business insurance
  • Management accounts
  • Payroll services
  • Book-keeping

*Source: The Society of Motor Manufacturers and Traders

For further information send us a quick enquiry or contact a member of our team to the right of this page.