Our retail accountants and tax advisors have a wealth of industry experience. We work with businesses in the retail and wholesale sectors, from independent operators to national outlets and online retailers as well as sector dependent businesses. Our specialist retail accountants and tax advisors can provide your business with industry-leading advice and insights to help reduce overheads and increase profit margins.

The retail market is fast-paced and there is no doubt that this sector is currently one of the most challenging and competitive. As specialist advisors to this sector, we understand the challenges it faces and our experts will help you make the right decisions, at the right time. Our retail accounting and tax team can advise you on when to expand, how to fund growth and how to deal with any financial problems that you may encounter, all of which are key to a successful retail operation.

Retail accountants and tax advisors that understand the industry

As retail accountants and tax advisors with many years of experience working closely with the industry, we understand the issues facing the retail and wholesale sector.

Retail is one of the most significant sectors of the economy, one third of consumer spending went through retail in the UK during 2020, accounting for a spend of £403 bn. 

For the high street, shifting consumer spending habits and the growth of online retail, which grew by 45% in 2020 alone has had a significant impact on footfall. Increasing Business Rates are also a major concern. 

Our advisors can work with you to identify savings, work to make you more tax-efficient and optimise profitability.

Why work with a specialist retail accountant and tax advisor?

Our retail and wholesale accountants and tax advisors handle general ledger postings, evaluate daily financial data, analyse your business trends, and find cost-saving methods activities. Our job is to see that all financial records are accurate, complete, and in compliance with accounting principles so that you don’t have to. 

Our tax team ensures that your business is structured in the most tax-efficient way and advises on business restructuring alongside the tax implications of mergers, acquisitions and disposals.  

Our expertise goes much further, for many retailers, our in-depth knowledge of Research and Development (R&D) tax credits, can help identify projects where claims can be made for tax credits, to minimise cash flow and reduce tax liability. For existing retail clients this has included developing new stock systems, innovations in shop fit-outs and the development of shopping apps. All this work is carried out by our team, with minimal input required by clients.

We are also able to advise on capital allowances, including the 130% super deduction first-year capital allowance for qualifying plant and machinery. Depending upon circumstances, this can bring significant tax savings for store refurbishments and fit-outs as well as other premises including head office and warehouse & distribution premises.

Expert retail accountants and tax advisors

Whether you have a single outlet or a national chain, or operate solely online, we can assist you in the more complex areas of this sector, such as dealing with overseas manufacturers and distributors. Our retail team can also help you to implement IT systems that can accurately track orders, inventory and ensure all cash movements are managed properly.

For international brands, we can liaise with your overseas offices, and provide services for your UK operations.  We provide audit services for subsidiaries of overseas companies and we regularly work with clients of other accounting firms, including those internationally based, providing expert audit services for their UK subsidiary clients.

For overseas companies looking to establish in the UK, we are also able to assist in registering a UK-based business and managing the financial reporting obligations and UK tax structures.

We can also provide outsourced financial management including payroll services for your UK operations, advise on strategies to enter the UK market and advise on business growth.

Our team have the expertise to develop your business further and provide strategic advice on:

  • Access to specialised funding
  • Advice on mergers, acquisitions and disposals
  • Auditing
  • Business restructuring
  • Business valuations
  • Capital Allowances
  • Cross border tax issues
  • E-tailing
  • Funding options and profitability
  • Managed payroll

Our retail accountants can help you to avoid potential pitfalls that those who do not seek professional retail accounting advice can fall foul to. Employment compliance is an extremely complex area and our expert team can ensure you are adhering to all regulations and can advise you on HR matters, disciplinary proceedings, pensions and much more.

Accountants for ecommerce

Our team is experienced in advising e-commerce businesses across the UK. We work with businesses that are solely online alongside retailers with both a physical and online presence.

Many physical retailers are now expanding online, this includes those who sought additional sales channels during the pandemic. With these new digital opportunities come new challenges. 

Whether your business is launching a new online function, expanding its existing online offering or operates entirely online, it is important to seek the right advice. Our e-commerce accountants and tax advisors have the tools and expertise to assist you, whether that be in advising on the most profitable lines to launch online, dealing with overseas VAT, or operating as tax-efficiently as possible, which may involve launching a new subsidiary or stand-alone company.

Industry leading advice

Our team is always at the forefront of the latest tax legislation facing the retail and wholesale industry. When you choose Alexander & Co as your accountants and tax advisors, you will always be kept up to date on the latest regulations, liabilities and tax reliefs available to your company.

Contact our retail accounting and tax advisory team for more information

For more information on how we can support your business, call our retail accounting and tax advisory team on 0161 832 4841 or email info@alexander.co.uk. Alternatively, please complete the online enquiry form on this page and a member of our team will be in touch.

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