Supporting the automotive retail sector
The motor retail sector experiences continually high levels of competition with often complex issues. At MHA Carpenter Box our considerable experience in this sector means we recognise this, and are well positioned to advise our clients, adding real value to the operation of their business.
We build strong relationships with our clients and take a partnership approach. We have the knowledge and expertise to ensure that we provide pro-active and timely advice enabling you to focus on taking the business forward.
We have acted as accountants and auditors to motor dealers for many years and understand how dealerships work and the conditions under which they operate. It is important that your finances are efficient and well looked after in such a highly competitive field – one that also has many specific accounting, audit and tax issues.
In addition to looking after local dealerships, we also work with our colleagues in the MHA Motor Retail team. Across our network we act for franchises with combined turnover of hundreds of millions of pounds with franchises including Vauxhall, Ford, BMW, Land Rover, Renault, Mitsubishi, Peugeot, Toyota, Suzuki, Hyundai, Nissan, Honda, Alfa Romeo, Chevrolet, Chrysler, Jeep, Citroen, Fiat, Skoda and Kia, amongst others.
We act for dealerships throughout West Sussex, East Sussex, Hampshire and beyond. Membership of MHA gives us a national presence representing dealerships throughout the UK.
“With MHA Carpenter Box we have seen a dramatic improvement in the way in which we produce our monthly reporting which has really allowed us to be more transparent and efficient when planning ahead. Chris has been fantastic in advising on a wide range of accounting and tax issues in the motor industry and I really value his sector insight and enthusiasm…The support that MHA Carpenter Box provides to our business has helped me to continue our growth path with confidence.”
Brett Duke, Director, Fine Cars Kia
How we can help:
- Bookkeeping, preparation of management accounts and composite reporting
- Financial reporting and cash flow modelling and forecasting
- External audits specifically tailored to cover motor dealer risks such as valuation of used cars, accuracy of bonus income and warranty provisions
- Internal audit, control reviews and finance function effectiveness reviews
- Forensic reviews into potential fraud and any contractual disputes
- Corporation tax compliance and returns
- Tax planning with organisational structuring guidance
- Employment taxation advice and employee incentive schemes
- Wealth management services, including income tax, retirement and succession planning
- VAT advisory service for motor dealers
- Strategic operational and financial reviews of dealers to provide an overall health check and advice on potential profit improvement or exit options
- Corporate finance advice on deal strategy and execution of all M&A activity, including acquisitions and disposals
Find out how we helped make a difference for Fine Cars Kia, including consultancy advice and significant tax savings.