Transport & Logistics Accountancy

With over 25 years experience in the Freight and Courier industry, and accounts ranging from £1m to £40m in turnover, you can feel confident that your business is in safe hands.

We now act for over 20 freight companies (air, sea and road) supplying specialist industry advice on all aspects of their accounts.

We support our clients over a wide spectrum of services: from the basic accountancy needs of VAT, capital allowances and investments to dealing with excise duties, job costing and foreign currency disclosure. We have invested heavily in the training of our team to ensure that your business is supported on every level.

Our services and areas we can advise on include:

International aspects of trading

  • Exchange rate fluctuations
  • Time Zones
  • Language
  • Cultural differences

Tough market with cut throat competition

  • No restrictions as to who can set up a freight forwarding business
  • Tight margins

Type of operation

  • Whether to deliver or sub-contract?
  • Reliance on third parties and associated risks?
  • Is investment in vehicles and premises significant?
  • Is capital tied up on a long term basis?
  • Are they cash rich due to upfront payment?

Taxation implications

  • VAT bonds
  • Excise duties
  • Direct staff or sub contract labour
  • Travel and subsistence issues
  • Annual investment allowances and Capital allowances on plant and vehicles

Accounting issues

  • Job costing and accruals
  • Timing of income recognition
  • Provision of payments in advance
  • Accrual of costs not invoiced yet
  • Foreign currency disclosure
  • Treatment of fixed assets
  • Complicated management information systems

If you would like to arrange a more in-depth discussion with our team about our experiences in the Transport and Logistics Sector, please feel free to contact us at Barnes Roffe for more information. Our specialist team of chartered accountants will be more than happy to help.

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