Hotels and Hospitality

Hotels & Hospitality

We have served the hotel industry for over 25 years and our team members are well versed in commercial and accounting issues, tax planning opportunities and, compliance issues.

We have breadth of specialist knowledge throughout the hospitality sector – from top branded hotels, family-run hotels, private member London clubs and national and international groups. We also support restaurants, bars and pubs, outdoor leisure companies, holiday parks and caterers. Throughout the sector our hotel and hospitality accountants understand your needs.

Solutions

Through our experience and knowledge we can help answer your specific questions and create bespoke solutions  for your particular circumstances. Some key considerations are:

  • Structuring

Some hotel businesses own the properties from which they operate. It’s important to look at the structure in operation. Should your trading risk be isolated from your valuable assets such as property? Is the structure tax efficient? Does it allow for an exit strategy? What are the inheritance or capital gains tax consequences? It’s clearly important to plan the best structure where there is property ownership.

  • Staff and management

We can advise on the setting up of an employee pool in a separate company from the main trading business to isolate the employer’s risk from the property and trading. We offer a payroll outsourcing function to help with this.

There are other additional complications such as the “tronc” arrangement for the distribution of tips etc. We have the knowledge and experience to help you manage these arrangements and ensure correct compliance.

In addition we can help with the changes to pensions under Auto-Enrolment. Some hotels have large numbers of staff bringing a bigger admin burden. We can help on all aspects of this transition from scheme set up to integration with your payroll.

  • Capital allowances

We have a specialist team dealing with large cashback tax claims which aren’t normally dealt with by accountants. Owners will not be always be aware of the claims that can be made from ownership of commercial property. We are quick and thorough in maximising the best claims to release cash to your business.

For further details on Capital allowances click here.

Specific services

Our specialist services geared toward your business are:

  • Wealth extraction and tax planning
  • Improving efficiencies, productivity and cost saving
  • Capital allowance claims
  • Payroll outsourcing
  • Financial due diligence
  • Audit of internal controls
  • Advice on regulations specific to the hotel industry on areas such as tax, VAT, HMRC and PAYE
  • Dealing with employment tax issues and assisting with HMRC enquiries
  • Preparation of accounts
  • Statutory audit
  • Cash flow forecast

If you require further information or assistance or would like to discuss your requirements please contact Simon Tee or Mary McDonagh.