Hospitality, Leisure and Catering

Whether your business is a hotel or guesthouse, part of the food and drink industry or a provider of leisure facilities, such as a gymnasium or leisure centre, we have the experts available to help you handle your accounting requirements and tax duties. We know how to look after financial matters around employees, whether permanent or seasonal, and have the knowledge to guide you through compliance, while protecting and developing your assets to the best of our ability.

Other areas of expertise include VAT, offshore parent companies, auditing and capital allowance planning. We can look after your finances and tax, leaving you free to look after your own clients’ needs.

As well as hotel/accommodation specialists, we provide experts with solid knowledge of accounting and tax planning in the food and drink industry. Our teams work closely together to service all our clients in the hospitality sector, enabling us to offer a truly bespoke hospitality tax planning and accountancy services package.

Staff and management

Hotels are usually advised to retain their employee pool in a separate company from the main trading business. This significantly reduces the employer’s risk and allows employees’ time to be recharged to the relevant business at the correct rate. We can help you set this up, managing calculations and time recordings to make sure your records remain accurate and up to date.

Hospitality businesses’ payroll can also come with additional complications, such as managing tips, seasonal staff etc. We have the knowledge and confidence to help you manage these arrangements correctly and to adhere to the relevant compliance requirements.

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Structuring

Whatever the size of your hotel or hospitality business, it is vital to consider the structure of your business to reduce trading risks and group assets in the most tax efficient manner possible. Other property ownership matters to be taken into account include exit strategy, inheritance tax and capital gains tax planning. We can help you work out what’s best for your particular business and set the structures in place to ensure smooth operations.

VAT

Providing such a wide range of hospitality (accommodation, room hire, catering, laundry services, food and drink…) means that your business must remain compliant with a wider range of VAT rules and regulations. HMRC takes a keen interest in businesses with a higher chance of making errors and erroneously under-declared VAT. Our “VAT health-check” service offers peace of mind in such circumstances, allowing you to review your current VAT compliance and to make sure your accounts are correct in terms of VAT.

Offshore parent companies

Hotel companies with an offshore parent face even more complicated issues, which we can help you negotiate. Some examples include tax rules such as double taxation, transfer pricing rules and Thin Capitalisation.

In summary, we are proud to offer the hospitality industry the following key services:

Management accounts – timely management information to help control costs and build on business strengths
Key Performance Indicators – industry relevant KPIs such as RevPAR, ARR, wages and GOPPAR
Payroll – outsourced payroll and specific advice e.g. on handling tips
Statutory accounts, audits and corporation tax compliance.
Non-statutory assurance reports.
Group structuring.
Tax planning (property taxes, Capital Gains Tax, Inheritance Tax and international concerns)
Capital allowance planning – make the most of allowances available on plant and machinery and “integral features” within buildings
Exit strategies
VAT advice and health-checks
Advice on auto-enrolment

If you would like to find out more about how we can help your Hospitality, Leisure or Catering business handle its accountancy matters and/or tax planning concerns, send us your contact details and a brief message via the enquiry form on this page. We will reply to fix a time for your free initial consultation.