UK Retail Market

Specialist Accountancy Support for the UK Retail Market

James Todd & Co’s expert team of highly experienced accountants, tax advisers, and business consultants works with clients across the retail sector. Many clients navigate complex and fluctuating pressures, from supply chain management to changing trends and tax obligations. Our role as your accountant is to add clarity, certainty, and control to your processes while offering the benefit of independent guidance at all times.

Working With an Experienced Retail Accountancy and Advisory Team

Retail clients often note that the seasonal nature of their businesses means precise reporting, budgeting, and cash flow management are key, with the need to manage multiple moving parts, from diverse revenue streams from online and in-person sales to fast turnovers of time-sensitive inventory and goods that make real-time reporting essential.

We support clients over the long term, providing practical assistance with tax optimisation, regulatory compliance, and statutory reporting while getting to understand the organisation’s underpinning objectives and how business plans and strategies can adjust to meet trends without sacrificing profitability and longevity.

Tailored advice goes beyond managing accounts and accurate financial reporting and can assist with expansion plans, comparing investments in equipment or inventory, transitioning into new market segments, or handling high-value contractual agreements important to your supply chains.

The complexity of the financial landscape in retail is also a consideration, with potentially millions of transactions, promotions, seasonal offers, returns, and commercial financing options, where an accounting team who knows your business inside out can provide recommendations and suggestions as your company grows.

Our Accountancy and Advisory Services for Retail-Sector Companies

James Todd & Co primarily focuses on larger retail organisations, drawing on the expertise and sector-specific knowledge of our reputable accounting and tax management teams, providing ongoing monitoring and reporting to ensure forecasts, budgets and plans are relevant and reliable.

We also provide regulatory compliance support, which can be multifaceted with factors such as border controls for imported goods or raw materials, VAT exposure on certain product categories, industry-specific regulations, and sustainability targets to ensure retailers adhere to consumer expectations around ethical production methods and sourcing.

This level of oversight and awareness of the changing retail environment helps our clients keep pace with market fluctuations, regulatory reforms, and emerging trends, using an understanding of market dynamics to inform their forward strategies and adapt their plans accordingly.

Retail Sector Businesses We Work With

We recognise the diversity of the retail industry and how the types of products you provide and the consumers or jurisdictions you serve will affect the level of accounting support you require and the challenges you may experience. James Todd & Co works with:

  • International retailers establishing a brand presence in the UK
  • Ambitious and fast-growing retailers
  • Specialty retail organisations
  • UK-based subsidiaries of overseas companies

Overseas retailers may, for example, require assistance structuring their UK subsidiary and adhering to domestic reporting obligations or analysing tax liabilities and reporting requirements. They also frequently require compliant audit services, including internal and performance audits.

The first step is to contact our retail sector advisers to discuss your priorities and current market position. This discussion enables us to suggest the right areas where we can help, from capital allowances to support planning mergers and acquisitions, evaluating varied funding options or handling cross-border taxation.

Selecting Relevant Accounting Services for Your Retail Organisation

Our specialist retail accounting team aims to be flexible and offers a full range of accountancy and advisory services based wholly on your needs. From annual reporting to consulting on software solutions, outsourcing administrative tasks and putting internal controls in place to support on-demand information-sharing, we can assist. Below, we have summarised some of the high-demand services we provide to retail sector clients.

Tax Planning and Management

Effective tax planning is essential to ensure you maximise all tax efficiencies, accounting for capital allowances, tax reliefs, VAT obligations, PAYE management and accurate, on-time tax returns and filings to meet your mandatory obligations.

Financial Reporting and Management Accounts

Retail businesses must produce varied reports, from statutory reporting and audits to performance appraisals, management accounts for leadership teams, and assurance reports. We can assist throughout the process, collating precise data and reporting outcomes.

Outsourced Bookkeeping

Growing retailers and those in high-competition sectors often find it challenging to allocate the resources to maintain the level of accuracy and reliability they need to see at a glance, their cash flow position, current returns and profitability, or spend per product category. Our bookkeeping teams take over as much or as little of your financial administration as required.

Systems Management and Advisory

Introducing the right financial management tools, cloud-based accounting software, and integrations can be transformative, providing cutting-edge resources and systems that augment your efficiency and inventory controls. James Todd & Co can advise on the best ways to support good cash flow management and control your workflows, regardless of your business size.

What we offer at a glance

Full accounting service

Business start-ups and company formation
Stress-free bookkeeping
Stress-free payroll
Cloud-based accounting

Quarterly review and management accounts

Goals to Growth consulting
Taxation support & advice
Fee protection service
Statutory audit

Trust us we’re Xero and Sage experts

Contact Our Retail Sector Accounting Team

You are welcome to contact James Todd & Co anytime to arrange a convenient day to discuss your business structure, accounting requirements and any specific concerns, whether you would prefer to meet in person or schedule a virtual consultation. Our website pages also include further information about our accounting services and our expertise as a leading retail accountancy provider.

Some words from our wonderful clients..

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"We have worked with Michelle and Kevin for many years. We were a small Partnership when we started using them for our annual accounts; as they grew as company so did we. With all their expertise and advice we turned our 500K turnover business into a 3.5 million Turnover business. They do our monthly management accounts and review and advise us on strategies to help us continually grow. The wide range of services they offer is amazing from Tax advice to Payroll and much more!"

- Danny Knight, Director, Knight Fencing Ltd. - client since 2007

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"Running your own business can be incredibly stressful, You need someone you trust who is on your side and who you can call whenever you need help or advice. I have that with James Todd & Co."

- Julia Haviland, Director, Brittain Marketing Services Ltd

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"James Todd & Co have been our accountants since 1997 and have provided excellent services throughout our time together. They have undertaken our CIS, Payroll, VAT and end of year accounts during this period and have been excellent throughout. They have a great team, all of which are a credit to the company."

- Steve Carder, Director, Facilities Fire Protection Ltd - client since 1997