The Engine – Spring 2024
Welcome to the latest issue of The Engine with insights for Manufacturing & Engineering businesses.
With signs of Spring taking hold, the industrial landscape continues to face significant challenges, particularly with the depressing news of job losses at Tata's Port Talbot steelworks.
Since the start of the global pandemic, SMEs have faced unprecedented challenges, contending with inflation hitting a 30-year high, a once-in-a-generation energy crisis, interest rates seeing the steepest series of increases in decades, the pound falling to a record low against the dollar and conflicts in Ukraine and the Middle East.
Relatively few businesses in the Manufacturing & Engineering sector will have escaped these challenges unscathed. However, while there are clearly challenges ahead, the sector is resilient and innovative. Despite the tough conditions.
In this edition of The Engine, we take a look at several issues which businesses in the manufacturing and engineering sectors should be aware of, such as the impact of the Spring Budget on the sector, the Corporate Tax Landscape and associated companies, navigating the Corporate Interest Restriction, and measuring your environmental impact, alongside a whole host of other topics.
Read the key articles from this edition of The Engine below:
ESG & the impact of Plastic Packaging Tax
Navigating the New Corporate Tax Landscape: Associated Companies from April 2023
National Insurance on Car Allowances – a refund opportunity?
More Manufacturing & Engineering insights below:
![Glass matrix of building](https://optimise2.assets-servd.host/mac-hud/production/Insights/Glass-matrix-of-building.jpg?w=400&h=225&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5&fp-y=0.5&dm=1695112742&s=17ce701ce672a144d7142f7b0f7bb782 400w, https://optimise2.assets-servd.host/mac-hud/production/Insights/Glass-matrix-of-building.jpg?w=600&h=338&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5&fp-y=0.5&dm=1695112742&s=7f4a3a712ab2e37e9fcb3ee20f508258 600w, https://optimise2.assets-servd.host/mac-hud/production/Insights/Glass-matrix-of-building.jpg?w=724&h=407.25&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5&fp-y=0.5&dm=1695112742&s=e5c3bb885fdcc505524bcbf5dec6c576 724w)
Navigating the Corporate Interest Restriction Landscape
Exploring Investment Groups and the Public Infrastructure Exemption
![I Stock 1097843582](https://optimise2.assets-servd.host/mac-hud/production/iStock-1097843582.jpg?w=400&h=225&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5&fp-y=0.5&dm=1711379477&s=30a2648189e2c1869718c214ece3dbbe 400w, https://optimise2.assets-servd.host/mac-hud/production/iStock-1097843582.jpg?w=600&h=338&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5&fp-y=0.5&dm=1711379477&s=2ed0be725f469c85969fe0e5784f9274 600w, https://optimise2.assets-servd.host/mac-hud/production/iStock-1097843582.jpg?w=724&h=407.25&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5&fp-y=0.5&dm=1711379477&s=103de4e6dcf69a968d708cc1a996e818 724w)
ESG as a tool for manufacturing growth
Many manufacturers are aware of the importance of having a sustainability strategy in place, but the urgency of implementation is perhaps not given top priority.
![Carbon](https://optimise2.assets-servd.host/mac-hud/production/Carbon.jpg?w=400&h=225&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5&fp-y=0.5&dm=1698417941&s=07b1be1900287372ce60392ea5919af3 400w, https://optimise2.assets-servd.host/mac-hud/production/Carbon.jpg?w=600&h=338&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5&fp-y=0.5&dm=1698417941&s=3fff1a15e959a5ed6b6bc45d744e5097 600w, https://optimise2.assets-servd.host/mac-hud/production/Carbon.jpg?w=800&h=450&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5&fp-y=0.5&dm=1698417941&s=61741726379209580cb53b8125345c9e 800w, https://optimise2.assets-servd.host/mac-hud/production/Carbon.jpg?w=1000&h=563&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5&fp-y=0.5&dm=1698417941&s=6e2810a860db22fb0d0ae8ec395c500e 1000w)
ESG in Supply Chains - measuring your environmental impact
If 90% of your problems came from one place, wouldn’t you do something about it?
![Team Training](https://optimise2.assets-servd.host/mac-hud/production/Team-Training.jpg?w=400&h=225&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5013&fp-y=0.5361&dm=1698404615&s=0679ebd144357c3a90a903330e4b34e2 400w, https://optimise2.assets-servd.host/mac-hud/production/Team-Training.jpg?w=600&h=338&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5013&fp-y=0.5361&dm=1698404615&s=e2058dabf9c0230d6b58d99b2093ad00 600w, https://optimise2.assets-servd.host/mac-hud/production/Team-Training.jpg?w=787.55555555556&h=443&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5013&fp-y=0.5361&dm=1698404615&s=1e6a118aa1af9049d853b3d4afff293f 787w, https://optimise2.assets-servd.host/mac-hud/production/Team-Training.jpg?w=786.85612788632&h=443&q=80&auto=format&fit=crop&crop=focalpoint&fp-x=0.5013&fp-y=0.5361&dm=1698404615&s=fb467fcd1128138f67ec4bf94408f732 786w)
Coping with Customs
Are you an importer of goods into the UK and are you confident that you have the necessary knowledge and procedures in your business to comply with UK customs legislation?
Download a copy of the Spring 2024 edition using the link below:
The Engine Spring 2024
Get in touch
As always, we are on hand to provide guidance and support. If you would like further information on any of the issues covered, please get in touch.
Contact the team