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A success story in exporting to the USA

We were delighted to catch up with the team at GaraDry, an innovative product design company, which won a prestigious King’s Award for Enterprise earlier this year.

GaraDry designs, manufactures, and sells the world’s largest range of threshold seals for residential garage doors and commercial doors.

We caught up with founder Ashley Smith who was happy to share some of his key experiences in cracking open the giant American marketplace…

“We launched our USA subsidiary in the USA in 2017 (GaraDry LLC), to handle strong interest from Americans in our products and we also launched a fulfilment centre in Tennessee to ship transatlantic orders quickly.

“People shouldn’t be frightened of exporting to the USA. My view, as an online retailer is that it should be as easy to sell your goods in Baltimore as it is in Blackpool if you have the right infrastructure, processes and people on your team.

“The impact of fluctuating exchange rates can make a huge difference to the viability of your export model. As well as margins being heavily dependent on these fluctuations, you’ve also got inflation to contend with on both sides of the pond.

“Shipping costs have stabilised recently but there was a time last year when the cost of a container to the States tripled in the space of just a few short months. The volume of containers to the USA reduced, putting up prices for everyone. You need to be very prepared for these kinds of issues which are largely out of your control.

“Overall, business is very good for us in the USA, The American public has taken to our products very well and we have a brilliant relationship with our customers in the USA.

“We see the USA as a key market for our range of products and we are constantly evolving our sales and marketing processes to generate more sales right across the USA.

“We’re really pleased we’ve got Alexander Knight & Co as our accountants and having the right professional advisers on board makes a huge difference to our success.”

Murray Patt, founder of Alexander Knight & Co, added:

“There is huge demand for the GaraDry range of garage seals in the USA and we are delighted to be their accountants and support them in their growth journey in the USA.

“As part of our membership of MGI, the global accounting network, we have first class contacts across the USA and can make introductions to the right people who can assist on the ground if you want to export to the States.”

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We support ‘Cinderella’ at Sale Waterside in Winter 2023

Alexander Knight & Co is proud to support Junior Stage 80’s production at Sale Waterside in November. This year’s magical offering is the incredible Rodgers & Hammerstein musical production of  Cinderella. It’s a brilliant opportunity to immerse yourself in this timeless story of love and hope.

Tickets are on sale here. 

As part of our tradition of supporting the arts we are delighted to be associated with such an iconic and cherished production.

Alison Spier, head of marketing at Alexander Knight & Co, said:

“We are always pleased to support productions by Junior Stage 80. We wish all of those involved – front of stage and backstage – the best of luck and we are sure that this show will be a huge success.”

Cinderella Sale Waterside November 2023

 

GET YOUR TICKETS FOR CINDERELLA AT SALE WATERSIDE HERE.

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New ad campaign in Altrincham Today

We are delighted to offer you a look at our latest advertising campaign in Altrincham Today!

 

 

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R&D Tax credits…a reminder!

R&D Tax Credits update for entrepreneurs in 2023

Murray Patt, founder of accountants Alexander Knight & Co says changes made by HMRC to the popular ‘R&D Tax Credits’ scheme are a reminder to check if your own business qualifies.

R&D Tax Credits are designed to encourage UK companies to invest in ‘research and development’. Correctly administered they can reduce your tax bill or you can claim payable cash credits as a proportion of your R&D expenditure.

Since the scheme was launched, our team has claimed back thousands of pounds for clients. The successful claims we’ve made on their behalf range from £5,000 to hundreds of thousands of pounds.

In my experience, too many businesses across the UK are missing out on this valuable tax break worth hundreds of millions of pounds.

Shifting criteria

The R&D scheme is part of the Government’s drive to boost innovation. It means that businesses investing in the research and development of new products and processes get a tax deduction on qualifying expenditure, including staff wages, materials, overheads, software and utility bills, as well as the ability to claim cash back from HMRC.

The scheme is under continuous review and significant changes were recently introduced – and there are more changes to come.

The rules and qualifying criteria for the scheme can be complex for inexperienced claimants in terms of identifying what kind of business expenditure actually qualifies. This is particularly true in cases where clients employ or subcontract work overseas.

For example, the Government soon intends to implement a new change whereby only R&D activity being performed in the UK (subject to specific exemptions) will qualify. This will come into effect from 1 April 2024.

A new digital application process became mandatory this summer where project and expenditure details need to be supplied in a specific format as well as a variety of other administrative changes.

The government have helpfully extended the scope of what costs can be claimed as qualifying R&D expenditure and this includes artificial intelligence (AI) an area in which more of our clients are investing and exploring the possibilities.

Do it properly… and professionally!

The key to making a successful claim is to correctly identify what expenditure qualifies, when it was spent and record it accurately for HMRC in the newly updated prescribed manner.

The process can be complex which is why we have a specialist R&D tax credits team managing the claims to a successful conclusion on behalf of our clients. You can read more on the official guidance issued by the Government here.

If you want to understand more about how your business can claim ‘R&D tax credits’ email Murray Patt (murray@alexanderknightaccountants.co.uk) or call me on 0161 980 8788.  

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Growth at Alexander Knight & Co

 

We are delighted to have bolstered our team of accountants in Hale with the arrival of Cameron and Abi.

Cameron Ellams joins the Accounts & Audit team from Beever & Struthers. Abi Thomson enters the accountancy profession from a teaching background.

Alexander Knight & Co was founded in 2012 and is a member of MGI Worldwide, the global accounting association.

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Thank you

We’d like to say a massive “THANK YOU” to many of our clients who have retained us for more than TEN years. We’re really pleased that this loyal client base is comprised of businesses within a wide variety of industry sectors including: 

  • Civil engineering 
  • Digital marketing 
  • Manufacturing
  • Electrical engineers 
  • Corporate Finance 
  • Legal 
  • Childcare
  • Transport & Logistics 
  • Media 
  • Wholesaler 
  • Retail 
  • Technology 
  • Property 

Thank you for your ongoing support – it means the world to our team!

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Murray Patt named as a leading influencer by the ICAEW for the second year running

Murray Patt, founder of Hale-based accountants Alexander Knight & Co, has been named as one of the UK’s leading accountancy influencers for the second year running by the ICAEW as part of its annual #ICAEWRoar campaign.

The top UK online influencers were chosen using a formula tailored to emphasise quality over quantity. Using its values of integrity, objectivity and respect for others as a starting point the algorithm is unique to ICAEW.

The ICAEW focused on UK-based individuals tweeting and discussing accountancy related topics such as accountancy, tax, budget, assurance, insolvency, audit and finance.

The regulatory body also used a social media listening tool to pull data relevant to specific keywords, looking at a metrics comprising of audience retweets, author tweets, sentiment, visibility and relevance.

Murray Patt, founder of Alexander Knight & Co, said:

“I’m delighted to have been named for the second year running. Social media is a fantastic tool to promote the positive work that good accountants do for their clients and it also provides an opportunity to network with peers and prospects.  

“Importantly it also engages young people who are looking to enter our profession and develop their career as an accountant. I’d like to thank the ICAEW for this accolade and the innovative way it has measured and evaluated all the influencers.”

You can follow Murray Patt here on Twitter and connect with him here on Linked-in. Read more on the ICAEW’s website here.

 

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Alexander Knight & Co: The Podcast

We’re excited to be busy working on a short series of podcasts featuring our clients, business associates and interesting people from the world of business. Sheldon Bean of Beanstalk Telecom was kind enough to be our first interviewee – and the result was a brilliant recording which we’ll publish soon.

If you’d like to feature on our podcast series – please let Alison Spier know (alison@alexanderknightaccountants.co.uk) – and we’ll arrange a date for recording in our office!

 

 

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10 year anniversary!

Read more
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Graduate trainee position available at Alexander Knight & Co

Are you a graduate looking for an opportunity to start your career in accountancy?

  • Have you recently graduated or are graduating within the next 12 months – ready for a Summer 2024 start?
  • Would you like to join an accountancy practice that will support you to progress the first steps in your career?
  • Apply now to join our growing team based in Hale, Greater Manchester.

Alexander Knight & Co is a modern, progressive and forward-thinking accountancy practice. We are committed to ongoing training and development in order to best serve the needs of our brilliant team and incredible, loyal clients, with a reputation for delivering high quality work through a friendly proactive style of accountancy.

Our client base is large and varied across a number of sectors both locally and nationally and we are active members of a renowned global accountancy network. We promote a positive and professional culture within our company and offer a supportive and flexible approach to working which is appreciated by both our staff and clients.

Candidate Requirements

Polite & professional manner.
Smart appearance.
Bright & articulate – able to engage with colleagues & clients appropriately, with ease & confidence.
Enthusiastic, self-motivated & keen to learn & progress within a professional environment.
Punctual, reliable, responsible, conscientious & trustworthy.

High level of numeracy & literacy essential.
Excellent organisational skills & consistent, accurate & analytical working methods.
Effective time management, strong communication skills & a high level of attention to detail.
Able to work independently & as part of a team.

5 (preferably 7) good GCSEs (grades A*-C/9-6) to include Maths & English ideally at the highest levels (A/A*/8/9)
2 A-levels (or equivalent)
Degree (2:1 or above)

Prospects and Benefits

  • Real potential for fast- track career progression.
  • Full support for completing studies and achieving career ambitions through staff training – on the job and external course provision.
  • Competitive salary
  • Agile, flexible approach to working, with opportunities for a hybrid basis i.e. a mix of remote and on site.
  • Modern, vibrant working environment, centrally located and within walking distance of both a village and a town.
  • Parking, excellent transport links.

Disclaimer 

Alexander Knight & Co is an equal opportunities employer and no terminology in this advert is intended to discriminate on the grounds of a person’s gender, marital status, race, religion, colour, age, disability or sexual orientation.

All candidates will only be assessed in accordance with their merits, qualifications and abilities to perform the role expected. Only successful applicants will be invited to the next stage consisting of an interview and assessment. We look forward to receiving your application via email to alison@alexanderknightaccountants.co.uk. You can read more about our practice here.

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