Frequently Asked Questions
We are investing in new machinery—should we buy or lease?
This depends on your cash flow and how quickly technology in your niche moves. We’ll help you “run the numbers” on both options. Buying often allows you to take advantage of Annual Investment Allowances (AIA) or Full Expensing to reduce your tax bill immediately, while leasing can preserve your working capital.
Can you help us with R&D Tax Credits?
Engineering is the “sweet spot” for R&D claims, but identifying what qualifies can be tricky. We’ll work with you to spot potential R&D opportunities within your day-to-day operations. Once identified, we work alongside trusted specialists who prepare the technical claim, ensuring it is robust, compliant, and maximised to support your continued innovation.
How do we manage the costs of long-term projects (Work in Progress)?
Engineering firms often have huge amounts of cash tied up in “WIP” before an invoice is even raised. We help you use Xero to monitor project profitability in real-time, ensuring that “overbilling” or “underbilling” doesn’t cripple your cash flow and that you always know your true margin on every job.
What experience do you have in the engineering sector?
Our team has worked with the full spectrum of the industry—from precision workshops to specialist and heavy engineering firms. We understand your capital expenditure needs, project timelines, and the importance of accurate cost-of-sale tracking.
How often should an engineering firm look at its numbers?
Monthly, as a minimum, and by job rather than only in total. With WIP, retentions and staged payments, a quarter is long enough for a problem job to eat the profit from three good ones. Monthly management accounts catch it while there is still time to act.
Can you help us get funding for a new machine or a bigger unit?
Yes. We prepare the forecasts and management accounts lenders and asset finance providers ask for, and we will tell you plainly whether the numbers support the purchase.
We quote fixed prices. How do we stop jobs overrunning?
Track actual hours and materials against the quote while the job is live, and review the quoting rates against real costs every quarter. We set this up in Xero so the overrun shows up in week two, not at the final invoice.
What does it cost?
A fixed monthly fee agreed up front, scaled to what you need: year-end and VAT, full bookkeeping and payroll, or monthly management accounts with regular reviews. Book a free chat and we will quote.
