Clement Keys
Chartered Accountants

Automotive sector

At Clement Keys we understand that the automotive industry is a dynamic sector which has faced a number of significant challenges in recent times.

Our client base includes tier one manufacturers and suppliers supporting OEM’s, suppliers to the motorsport industry and franchised motor dealers.

Franchised dealerships

We act for a number of large multi-franchise dealers and have considerable and relevant sector experience.

We appreciate that it is becoming increasingly difficult to generate profits at a time when margins are being squeezed and sales volumes are reduced.

However, we work closely with our clients to maximise available revenues and are able to assist with a range of services and bespoke projects including:

• Analysis of performance by individual cost centres
• Specialist VAT advice
• Preparation of budgets and cash flow information
• Benchmarking business performance within the sector
• Share valuations

Manufacturing and supply to the automotive sector

At Clement Keys we have a significant number of clients involved in either the supply of manufactured goods to the automotive industry or provision of “after sales” services.

Our client base includes:

• Tier one manufacturers of precision components, shims, assemblies and brackets to OEM’s
• Manufacturers of high performance car, motorcycle and commercial vehicle transmission technology, OEM and military applications
• National franchised car tyre and MOT / service centre providers

Clement Keys has the necessary specialist knowledge of this sector and are well placed to provide a comprehensive range of tailored sector specific services.

Motorsport industry

A number of our automotive clients also supply components to the motorsport industry. Our involvement in this industry ranges from acting for individual drivers (including those involved in Formula 1) though to teams competing in a number of single seater formats and classic cars in the UK, across Europe and the world.

Clement Keys recognises the importance of the motorsport industry to the UK economy as it is estimated that the industry employs some 60,000 full time people, including 25,000 skilled engineers, and contributes over £5 billion a year.

We also fully understand the specific issues faced by companies operating in this exacting sector and have assisted our clients particularly in relation to corporation tax (including the vagaries of the industry such as research and development credits and VAT issues).