MANUFACTURING

Manufacturing is capital-intensive, stock-heavy and margin-sensitive — and its accounting should reflect that. At TaxDigit, chartered certified accountants in Guildford, Surrey, our manufacturing accountants work with engineering workshops, food and drink producers, electronics and precision manufacturers, packaging firms and factories of every size across the UK.

We go beyond compliance: product costing, stock and work-in-progress valuation, capital allowances on plant and machinery (including full expensing), R&D tax relief, Patent Box and cash-flow forecasting — the numbers that decide whether a production line pays.

The problems we solve for you

When materials, labour and energy costs move weekly, yesterday’s numbers aren’t good enough.

• Unknown true product cost — costing systems that capture materials, labour and overheads per product line.
• Stock & WIP distortions — reliable inventory and work-in-progress valuation for accurate margins and accounts.
• Missed capital allowances — full expensing and annual investment allowance claimed properly on machinery and plant.
• Underclaimed R&D relief — process improvements and product development often qualify; we build robust claims.

Why manufacturers choose TaxDigit

We understand the factory floor as well as the balance sheet, and we report in the language of both.

• Sector experience across engineering, food & drink, electronics and packaging.
• Management accounts with the KPIs manufacturers actually use — margin, utilisation, scrap and stock turns.
• Capital allowances, R&D relief and Patent Box handled by one joined-up team.
• Chartered certified accountants serving Guildford, Surrey, London and the whole UK.

Accountancy engineered for makers

From monthly bookkeeping and payroll for shift workforces to VAT, corporation tax, management accounts and budgeting & variance analysis, TaxDigit gives manufacturers a finance function without the overhead of one.

Who we help

• Precision engineering and fabrication workshops — job costing and machinery investment planning.
• Food and drink producers — batch costing, wastage control and duty considerations.
• Electronics, plastics, printing and packaging manufacturers.
• Furniture, textiles and consumer-goods makers scaling from workshop to factory.
• Contract manufacturers and assemblers working with UK and overseas brands.

Frequently asked questions

Can you help us claim R&D tax relief for manufacturing improvements?

Yes. New products, materials, tooling and process improvements that resolve technical uncertainty can qualify. We identify eligible projects, gather evidence and prepare compliant claims.

What is full expensing and does our machinery qualify?

Companies can deduct 100% of the cost of qualifying new plant and machinery in the year of purchase. We confirm eligibility and time purchases to maximise the benefit.

How should we value stock and work in progress?

Consistently and defensibly — at the lower of cost and net realisable value, with overheads absorbed sensibly. We set up a method that satisfies both HMRC and your management reporting.

Can you produce monthly management accounts for our factory?

Yes — margin by product line, labour utilisation, stock turns and cash flow, delivered monthly with plain-English commentary you can act on.