Monahans Accountancy Services lined up to speak at Supporting Manufacturing in the South West event
Monahans Accountany Services (MAS) has been confirmed as a speaker at the Supporting Manufacturing in the South West event, taking place today at Swindon College.
Presented by Ian Lloyd, Relationship Partner at Monahans, the MAS session will cover:
The findings of the MHA McIntyre Hudson Manufacturing Survey: including the growth of manufacturing, funding structures, skills needs, currency exchange rate management and the tax regime.
Capital expenditure management: helping delegates ensure they take advantage of all available tax reliefs and Annual Investment Allowances (AIA). Expenditure falling within the AIA for example, is fully deductible from taxable profits. Lloyd will also explain how to ensure that capital spend falls in the correct periods for tax relief purposes
Enhanced allowances for research and development: what they are, how to qualify and the hurdles manufacturing business may face. These additional tax deductions are available for qualifying expenditure at the rate of 125% for small to medium sized companies and 30% for large companies. Business must demonstrate however, that spend seeks “to achieve an advance in overall knowledge or capability in a field of science or technology through the resolution of scientific or technological uncertainty.” Other conditions include the presence of technological or scientific uncertainties without the knowledge to resolve them being in place and the need to show a process of investigation into overcoming these uncertainties. HMRC estimates that £1bn of enhanced allowances goes unclaimed each year. MAS will help you ensure you don’t miss out.
Patent box: how to take advantage of tax relief on profits from the exploitation of patents. The rate of tax for exploitation of patents is 10%, significantly more generous than the standard corporation tax rate. This relief can be claimed on the sales of patented products, sales of products containing a patented product and the licensing fees for the exploitation of a patent. The relief, which came into effect in April 2013 and is being phased in through to April 2017, applies to all UK, EU and EEA patents. Ian Lloyd will explain how registering patents in the UK can help boost your business profits.
Other organisations speaking at the event include UKTI, Oxford Brookes, The Economic Development Office and Santander.
Monahans Accountancy Services
Monahans is one of the largest independent chartered accountancy groups in the west of England. The firm, which also incorporates Monahans Financial Services and Monahan Business Bureau, provides a full range of accountancy, tax, investment and insurance services to businesses and private individuals
Supporting Manufacturing in the South West takes place on from 10.00am to 2.00pm on Wednesday 17 July at Swindon College, North Star Avenue, Swindon, SN2 1DY. The event includes morning coffee, lunch and networking opportunities with speakers and standholders.
To register for the event, contact Clare Way on 01225 785520.
For further information about Monahans, visit www.monahans.co.uk.
Ends
Editorial contacts:
Maria Bretti or Clare Balmer
redheadPR
Tel: 07854 819 213 or 07868 165 526
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Monahans – Backgrounder
Monahans
With 17 partners and a total staff of around 120 across its offices inBath, Chippenham,Glastonbury,Swindonand Trowbridge, Monahans is one of the largest independent chartered accountancy groups in the west ofEngland. The firm, which also incorporates Monahans Financial Services Ltd, provides a full range of accountancy, tax, investment, insurance and human resource services to businesses and private individuals:
Accountancy Services, available to all types of organisation including limited companies, partnerships, sole traders, charities and trusts. Services include full production of accounts, tax computations, book keeping and a management accounts function.
Audit Services, providing independent confirmation of clients’ accounts, adding credibility in the eyes of third parties.
Business Recovery and Insolvency, helping both businesses and private individuals understand their options and make informed choices.
Business acquisition and disposal, maximising the value and tax efficiency of the sale of businesses and helping clients research, initiate and conclude purchasing opportunities.
Elite Payroll Service, taking the hassle out of this time-consuming, yet crucial financial function. Monahans is a BACS Approved Payroll Bureau and handles payroll procedures to the value of more than £4 million every month.
Employee Benefit Services, a range of employee benefits designed to help clients attract and retain the best people. Benefits include pensions, death in service schemes, private medical insurance and eye tests, retirement options, childcare vouchers and cycle to work schemes.
Forensic Accounting. Acting as an expert witness, expert adviser or expert determiner, Monahans offers extensive and in-depth experience in dispute processes.
HR Solutions, offering ad hoc support as and when required or acting as the client’s in-house human resources department.
IT Services, a range of business and finance-aligned IT advisory services and software solutions. Monahans provides management information systems, specialist reporting, database development and admin and management training.
Strategic Business Improvement, including strategic and financial planning and a business development consultancy.
Integrated Tax Services, helping businesses, trusts and individual clients understand the complexities of theUK and international tax systems and minimise tax liabilities within the legal framework.
Monahans encourages its staff to think creatively and, through a structured support system, has created an environment in which people can develop their skills and further their careers. As well as an ACCA (Association of Chartered Certified Accountants) Gold Award for the quality of training it provides its trainees, Monahans has been awarded ACCA Approved Employer – Professional Development status.
