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Autumn Budget 2024 Commentary: Manufacturing

Menzies

Menzies LLP - A leading chartered accountancy 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.

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Case study: Touchlight Genetics Limited

Menzies

Menzies LLP - A leading chartered accountancy firm. Client profile Touchlight are a DNA development and manufacturing company that has developed an innovative, synthetic DNA vector and enzymatic manufacturing process, which enables them to produce DNA at unprecedented speed, scale and purity.

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Shipping VAT & customs

Menzies

Menzies LLP - A leading chartered accountancy firm. Boats fall within the Capital Goods Scheme where there is VAT exclusive capital expenditure of £50,000 or more, which includes purchase, manufacture, refurbishment and alteration. These are set out below in broad terms, but formal advice should always be taken.

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UK Insolvency Trends 2025: Key Considerations for Credit Managers 

Menzies

Menzies LLP - A leading chartered accountancy firm. These figures show the growing financial pressures on businesses, particularly those in vulnerable sectors, such as construction, retail, hospitality, and manufacturing. In addition, credit terms should be adapted for businesses operating in high-risk sectors.

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2025 Sector Predictions

Menzies

Menzies LLP - A leading chartered accountancy firm. General Market Sentiment for Deal The main Capital Gains Tax (CGT) rate change on 30 October 2024 provides an opportunity for transactions to refocus on commercial drivers rather than immediate tax implications.

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UK Manufacturing: Attractive & Stable

Menzies

Menzies LLP - A leading chartered accountancy firm. The United Kingdom has long been a hub for manufacturing, with a rich history of industry and innovation. Skilled workforce One of the main factors that make the UK an attractive location for manufacturing is its skilled workforce.

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Autumn Budget 2024: Manufacturing

Menzies

Menzies LLP - A leading chartered accountancy firm. As the Autumn Budget nears, Menzies’ Manufacturing sector team have compiled a Wishlist for the sector, covering key areas such as a government tax roadmap, full expensing, innovation, and education investment for the sector.