Motor

The motor industry is currently experiencing a period of change, as the sector sees increased sales of electric and hybrid vehicles, alongside continuing demand for second hand petrol and diesel vehicles.

The after-sales market also remains buoyant with the need for reliable, value for money garages that offer repairs, services and MOTs in high demand.

However, one of the key issues facing many garage owners currently is the shortage of qualified mechanics. As a result, skilled technicians are able to command salaries of up to £50,000, meaning that cost efficiencies in other areas of the business are more important than ever before.

Additionally, businesses operating in the motoring sector understand that savings can be made by spending less time on administration and bookkeeping and more time focussing on running an effective and profitable enterprise.

At McGills, we provide specialist accountancy, tax and payroll services to a wide variety of motor industry clients, assisting them with the many practical issues which arise from operating in this sector.

We regularly assist clients working within the motor industry, offering a range of services including:

Company formation and setting up a new businesses
Bookkeeping advice
Advice on cloud-based accounting software
VAT advice and Marketing Tax Digital reporting requirements
Statutory accounts preparation

Company secretarial and corporation tax compliance
Personal tax returns
Managing your payroll
Commercial advice on developing your business
Succession and exit planning.

We understand that every motor trade business has different financial needs and budgets. Our services are cost-effective, and we work with you to create a customized accounting solution that meets your needs and budget.

To find out how McGills can help your motoring business save time, money and tax, please contact us now.