The Scottish food & drink sector generates a turnover of £13.1bn and is predicted to generate £16.5bn by 2017, meaning this sector will continue to be a vital part of Scotland’s economy.
With an ever-growing global population, and increased wealth in developing economies, demand for quality produce has never been higher. As a result, the export market will become increasingly important for food and drink producers. Scottish food and drink exports totalled £5.3bn in 2012, and with a target of £7.1bn in 2017 it is vital that food and drink producers are in good financial shape to meet export demand.
As active members of Scotland Food & Drink, our team has considerable knowledge of the sector and works closely with clients to help maximise growth and support their plans in the UK and abroad.
Some of the ways in which we help food and drink businesses are obtaining tax savings via R&D credits, identifying VAT saving opportunities, assisting with securing capital investment, as well as helping with day to day bookkeeping and accounts production.
As a result of many years’ experience in working with HMRC, we have the knowledge to ensure businesses are fully compliant and are fully prepared for any tax inspection. Several of our staff also have first-hand knowledge of VAT inspections from time spent working for HMRC, and we have an in-depth knowledge of the penalty regime and how to ensure compliance in a wide range of circumstances.