Our motor team provides a full range of accountancy, tax and advisory services to dealers and manufacturers

Motor Retail

Sector expert Steve Freeman heads the MHA National Motor sector group bringing experience of working with a number of Top 100 UK Dealer Groups, as well as with manufacturers and other international dealer groups, in areas such as external and internal audit and other business advisory support.

Our motor sector group incorporates our multi-award winning Corporate Finance team advising on acquisitions and disposals of dealers. Furthermore, our specialist Tax Partners have extensive experience of working with dealer groups in areas such as corporate tax and VAT advice and planning, high net worth and employment tax planning and incentive schemes and Fleet and Company Car schemes.

Supporting our clients

Our office locations are ideally placed to advise both local motor dealers and internationally owned groups. MHA is a truly national association with 50 MHA local offices across the UK who are vastly experienced in advising many successful owner managed businesses, including motor dealers.

We believe that our team’s key competitive advantage comprises the combination of our National specialist motor team along with our local offices, which means you have the engagement and knowledge of national specialists together with a quick and easily accessible local team. It is our Partner led service approach that ensures the delivery of quality service to our clients.

Our Partner lead teams are dedicated to understanding the motor retail sector. In order to gain a greater understanding of the industry trends, in 2016 we produced a Motor Dealer Report based on a survey we launched. The report provides an insight into sector trends and also contains commentary from the National Franchised Dealers Association (NFDA).  

Clients

Our work focuses on a mixture of compliance, business advisory and commercial projects offering our clients help in areas such as:

Our current experience in the motor sector comprises MHA looking after 37 clients across 113 sites, with a combined turnover of over £2 billion with franchises including Vauxhall, Ford, BMW, Land Rover, Renault, Mitsubishi, Peugeot, Toyota, Suzuki, Hundai, Nissan, Honda, Alfa Romeo, Chevrolet, Chrysler, Jeep, Citroen, Fiat, Skoda and Kia, amongst others.

Our Services

Our motor team provides a full range of accountancy, tax and advisory services to dealers and manufacturers including:

  • Accounting and Financial Reporting: assistance with book-keeping, preparation of management accounts and composite reporting, advice and support with the conversion to new UK GAAP and financial reporting and cash flow modelling and forecasting.
  • External Audit: audits specifically tailored to cover motor dealer risks such as valuation of used cars, accuracy of bonus income and warranty provisions. We are very experienced in leading multi-site location audits in the UK and internationally.
  • Internal Audit, Control Reviews and Finance Function Effectiveness Reviews: motor tailored cost effective assurance over daily and weekly operating controls and month end reporting, together with advice on how to optimise the effectiveness of the finance function.
  • Forensic reviews: reviews and forensic investigations into potential fraud and any contractual disputes.
  • Tax Compliance Support and Tax Planning and Mitigation: preparation of tax returns and tax advice/queries plus mitigation particularly in the following areas:
  • Corporation tax compliance and returns (we actively monitor enquiry rates on our clients resulting in a very low rate).
  • Capital allowances claims, including maximising historical acquisition and current refurbishment and refit claims.
  • Organisational structuring guidance, including creation of most tax efficient structures including Propco:Opco and conversion of LLP’s.
  • Optimising tax structures for acquisitions and disposals.
  • Employment taxation advice and support, including Fleet and Company Car schemes, BIK and PAYE advice and auto-enrolment.
  • Employee incentive schemes planning.
  • Wealth management planning, income tax and retirement and succession planning.
  • VAT advisory: key tax advisory service for motor dealers led by our team of very experienced motor specific VAT experts.
  • Strategic Reviews: 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: advice and support on deal strategy and execution of all M&A activity, including acquisitions and disposals and covering:
  • Sell side advisory, purchaser identification and grooming the business for an exit.
  • Due Diligence on target.
  • Valuation and purchase price negotiation and agreement.
  • Financing options and optimisation, including existing financing arrangements.
  • Post deal integration advice and support to maximise return.

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Any questions?PublicationsContact Us

See our publications for more information about the services we are able to offer to the motor retail sector, or for more information, please contact us.