E-commerce, retail and fashion
Specialist accountancy, audit & tax support for retailers, brands & boutiques
Currently acting for national and international luxury retail brands and fashion boutiques, Brebners recognise the importance of understanding your business needs so we can provide you with relevant, proactive advice whilst also ensuring that all aspects of statutory compliance are dealt with.
Retail and fashion businesses commonly face high transaction volumes, seasonal fluctuations, cash flow volatility, complex stock management requirements, and tax challenges arising from international supply chains and cross-border sales. Brebners’ familiarity with the issues at hand mean we’re well-placed to assist.
Why Choose Brebners
✔ Industry expertise
Brebners have been supporting businesses in London since 1933 and now help retail and fashion clients from our offices in the West End of London and in Kent as well as remotely across the UK.
We’re members of the Institute of Chartered Accountants in England and Wales and uphold the highest standards.
✔ Support for all businesses of all shapes and sizes
We support retail and fashion businesses from small owner-managed companies to well-known brands. Clients we have worked with include:
- Mayfair-based boutique outlet stores of luxury European brands
- Fashion e-commerce businesses selling luxury clothing and leather goods
- A high-volume sportswear and sports equipment e-commerce business
- Other retailers, including shops selling DVDs, books and gifts
A common scenario we see is where a brand owned by a large European group incorporates a UK company to operate a London-based boutique store. Such companies will often not be eligible for audit exemption, and Brebners carry out the audit. Lack of familiarity with applicable accounting standards in the UK sometimes leads to recommendations which avoid key pitfalls.
✔ Joined-up, partner-led service
We’re large enough to have specialists in all areas - tax, payroll, audit, corporate finance and more - but small enough that you always receive a personalised service and quick answers.
Our team will speak your language and offer jargon-free advice.
How We Help Retail and Fashion Industry Businesses
Services we provide to fashion and retail businesses include:
In the words of Andrew Owen, Group Chief Accountant at the British Film Institute:
“We have always found them to be courteous, efficient and their charges reasonable, with an appropriate level of service. We are therefore happy to recommend them for audit and accounting services”
For more testimonials, see Testimonials
Ready to Talk?
If you're looking for accountants for your retail or fashion business who understand your industry, your challenges and your ambitions, our specialist team is here to help.
Contact us today for a free, no‑obligation discussion.
Frequently Asked Questions
Inventory is frequently one of the largest numbers in the financial statements of a retail, fashion or e-commerce business and we often make recommendations regarding the associated policies and controls.
Under FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, an entity is required to measure inventories at the lower of cost and estimated selling price less costs to complete and sell. Crucially, cost includes all costs incurred to bring the inventories to their present location and condition, and inventories must be assessed for impairment at the end of each reporting period.
There are further complications, including concerning the formulas to apply to determine cost, and important considerations should your company require an audit. Contact us today for a no-obligation initial discussion and for advice tailored to your business.
Under the latest edition of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, revenue should only be recognised for products that are not expected to be returned, and a liability is recognised for expected refunds. There are further important considerations – for guidance, please do contact us today.
Many retailers lease premises, and amendments to FRS 102 which are applicable for accounting periods commencing on or after 1 January 2026 bring significant changes to lease accounting. Operating leases which might previously have been accounted for as a straightforward cost in the profit and loss account (e.g. ‘Rent’) will in many cases need to be brought onto the balance sheet, involving the calculation of a lease liability and right-of-use asset. To determine if this applies to your business and for guidance on the necessary calculations and accounting entries, contact Brebners today and we can advise further.
For more information and to arrange an initial consultation please contact: