Automotive

In these troubled times for the automotive sector getting the right advice when you need it, from advisers who understand your business and the issues affecting the sector, often makes the difference between success and failure.

About Kingston Smith's automotive team

Our automotive team currently acts for a variety of businesses involved in the sector including:

• Franchised dealers
• Independent garages
• Bodyshops
• After market businesses
• Suppliers and manufacturers of parts
• Manufacturers of ancillary automotive products

Our experienced team understands the issues and challenges being faced by businesses in the automotive sector including maximising profitability, improving cash flow, forecasting and working capital management.

We also act for the Retail Motor Industry Federation, the trade association representing the interests of companies operating in the retail motor industry.

How we work with you

We will provide you with the right advice at the right time in order to help your business succeed in the competitive and changing market place. We do this by providing you with tailored services led by a partner who will be accessible, and who will take the time to understand your business and will co-ordinate a specialist and experienced team to help you meet your objectives.

How we can help you

We offer you a comprehensive range of highly specialised services, tailored by your lead partner specifically to your needs. These include advice on:

• Financial planning techniques – development and monitoring of profit and cash flow projections.

• Financial reporting processes – advising on regular financial disciplines, optimising the use of your Dealer Management System (DMS) and developing business measurement criteria.

• Accounting and audit services.

• Business strategy and advice on structure to help you build value and protect your wealth. Our Dedicated Wealth Advisory Service provides financial planning advice to help you achieve your personal short, medium and long term objectives.

• Planning property ownership structures to minimise tax exposure using Limited Liability Partnerships, Limited partnerships, Limited Companies and Offshore Companies. Many businesses in the automotive sector own freehold properties and we can advise on the most tax efficient method of holding these properties.

• Tax and VAT – providing solutions to complex tax and VAT issues, maximising capital allowances claims and undertaking ‘health check’ reviews of VAT, PAYE and corporate tax compliance.

• HR consultancy and planning – undertaking a full HR health check through to specific advice on contracts, policies and procedures as well as assisting with dispute resolution.

Our experience in the sector and in advising owner managed businesses means we are able to make a difference to your business.

What our clients say

"Kingston Smith has been our auditors and advisors for over 40 years and has, over the years, always provided us with helpful and sound advice both on accounting and general business practices. Their expertise in the Motor Trade sector has developed throughout this long period and I would have no hesitation in recommending them as a reliable and well informed business partner."

Robert Smith
Managing Director
SG Smith (Motors) I & M Services Ltd