With increasing competition in the industry and limited opportunities for diversification, times have been challenging for the travel and transport sector. Across shipping, rail and bus networks, the big players are fighting the double dilemma of over-supply and increasing regulation.
At a regional level, the European Commission and the European Court of Justice are at odds over the operation of the TOMS VAT scheme , whilst at an industry level, IATA is tightening its bonding and audit requirements for accredited agencies.
However, it would be wrong to think that declines are terminal, or that the fortunes of this industry are inevitably linked to those of the wider economic marketplace.
At taylorcocks, we know that even though margins may be under pressure at the moment, you can steal a march on your rivals by lowering your cost base and offering reduced rates. Neither of these options are simple to implement, but with the guidance of our specialist travel and transport teams, they can help turn around a business and bolster it for the brighter days ahead.
Whether your company is a global giant or an up-and-coming owner-managed enterprise, and whether your focus is on logistics or vehicle/vessel supply, we look forward to working with you on making your business ambitions become a reality.
Our services include:
- chartered tax advice
- financial planning
- cash flow management
- extracting profits
- dividends or salary options
- risk management
- financial auditing
- handling HMRC inquiries
- corporate recovery and insolvency