What do I need to know about Video Games Expenditure Credit (VGEC)?
Video Games Expenditure Credit (VGEC) is a new tax relief scheme introduced to support the video game development industry in the UK. Read more from our experts here...
Automotive
Providing you with the right tools to run your business
The automotive industry has undergone significant development in the last year, shaped by rapid advancements in technology, shifting consumer preferences, sustainability goals, and ongoing challenges such as supply chain disruptions and labour shortages.
We have also seen rapid growth of EV vehicles which are set to change the automotive space in the coming years.
We have extensive experience acting across the automotive industry, including supporting dealerships, digital retailers, innovators and engineers, distribution and logistics businesses, auto centres, repair businesses, wholesalers, and parts manufacturers.
The current environment of fast-paced change has seen major advances regarding energy, autonomy, and production. Coupled with an evolving customer and regulatory landscape, the pressure for automotive companies to increase profitability, and protect and secure their supply chains, all whilst focusing on ESG and accountability has never been greater.
We have seen first-hand how niche parts of critical supply chains have experienced and responded to changing pressures and supported our clients through this journey. Looking to the future, we can see how different parts of the value chain are expecting revenue growth at varying rates, matched with expected volatility in margins. We think that means that, now more than ever, having expert financial systems and advice in place is critical for businesses to thrive in the sector.
Our dedicated specialists are here to support you
Our team of experts has long-standing experience working with a range of clients at different stages in their business lifecycle in the automotive sector. We can offer services beyond the normal compliance work, including:
- audit services
- R&D tax credits
- bespoke payroll and outsourcing
- tax consultancy
- advising upon the design and implementation of business strategies
- due diligence
- raising finance
- reviewing and implementing a range of business systems and accounting software
- employee options and management
- understanding the value of your business, what it could be, and how you can achieve it
Providing business owners with access to greater tools and information to run their business
We can also work with you and provide advice on your reporting processes and business systems, helping you to implement streamlined and cost-saving processes.
At Price Bailey, our clients have ongoing access to their accounting systems and information, allowing you to review sales targets and cash balances in real-time, meaning you can be increasingly flexible and respond swiftly to the information at hand.
We also have specialists that are Xero and Sage accredited, and QuickBooks qualified.
We can help
Contact us today to find out more about how we can help you
Read our insights here
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