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Hotels & Hospitality

Hotels & hospitality

The hotel and hospitality industry thrives or fails depending on their ability to meet their customers needs while running their operations as efficiently as possible.

The industry is facing a whole host of challenges from the minimum wage increase and zero hour contracts, through to maintaining robust data protection processes with the increase of online bookings and the ever-increasing threat of cyber-attacks.

Our Hotels & Hospitality group advises clients including hoteliers, restaurant and bar operators and private members clubs. We understand the pressures facing this people-driven sector and pride ourselves on providing insightful, practical and integrated advice from accountancy and tax advisory, through to corporate finance and wealth management.

Hotels

We have a long-established track record of providing business advice to hotel owners and operators. Our experience embraces all areas of the sector, from top branded international hotel groups to boutique, family-run and independent hotels.

We offer a wide range of services tailored to meet the needs of your hotel and below is just a few of the areas where we could assist you.
 
Effective auditing
For some hoteliers, audit simply satisfies a regulatory requirement; for others it becomes an integral part of the hotels management and governance framework. Whatever the motivation, we design our audit and assurance services to maximise value.
 
Strategic tax and compliance insight
Hotels are favourite targets for tax authorities. We develop strategies to minimise tax costs to the business, encompassing capital allowance claims, property ownership, international tax structuring and financing.
 
Practical corporate finance expertise
We provide financing advice to hotel businesses at all stages of development, from new start-ups to large established groups looking to expand or refinance. We advise on the most appropriate type of finance and actively help in the finance raising process itself, whether involving equity funding, mezzanine finance, senior or other debt.

Sound risk management advice
Hotel owners who are not active operators within the business gain great comfort from knowing the risks to the business are being properly managed. We can help you establish an effective risk management approach based on a clear strategy and transparent risk register.

Private members clubs

Private members clubs have a vast array of challenges from generating extra income, through to maintaining membership numbers. Our specialist team offer a wide range of services tailored to meet the needs of your organisation and below is just a few of the areas where we could assist you.
 

Governance, risk & assurance
We offer a range of services designed to support your organisation in maintaining robust governance and assurance frameworks. We understand that the club committee are not involved in the day-to-day management of their club and therefore need to have the confidence that their systems are appropriately robust and that their auditors are thorough.

Tax & VAT
Most private members clubs benefit from a corporate tax regime that permits income, other than investment income and profits derived from trading with non-members, to be non-taxable. A significant proportion of subscription income can be zero-rated or exempt from VAT due to the provision of library or sports facilities. While beneficial this can restrict the recovery of input tax. Our team understands the complexities pertaining to both corporate tax and VAT and provide advice assisting clubs to minimise their tax loss.

Fraud & corruption
Fraud is also becoming more prevalent throughout the UK and the club sector is particularly prone to this risk. We can help you put effective policies and strategies in place to help mitigate the risk and advise on how your club could prevent fraud, such as undertaking regular stock takes, monitoring gross margins, controlling electronic payments and ensuring an effective whistleblowing arrangement is in place.

 

Restaurants, pubs & bars

This sector has faced mounting pressure in recent months from the negative press surrounding restaurant chains pocketing staff tips, through to the increase in the minimum wage.

We understand that whether managing gourmet or fast-food restaurants, a pub or bar, the success of these businesses depends on their ability to meet their target customers needs while running their operations as efficiently as possible.

Our specialist team provides the typical audit and accountancy services you would expect of a firm of our size, in addition to:

VAT compliance
The catering industry faces close scrutiny by Customs & Excise in the way they control the collection of VAT. We have been involved in a number of cases in the catering industry and have negotiated settlements with Customs with the minimum exposure to financial penalty or business disruption.
 
Businesses in this industry should review their VAT accounting system regularly. We help by conducting simulated review visits to provide reassurance that procedures are operating properly and meet Customs requirements.

Given the numerous different VAT rates and complex rules with which the catering industry has to comply, our specialist team can also advise and review the VAT rates being used by the business to ensure VAT is only being charged where necessary, and all available VAT is being reclaimed.

PAYE compliance
With the ever-increasing burden of red tape and regulation on employers, you will need to be confident that you continue to comply with PAYE, NIC and other employment regulatory requirements. The restaurant industry is particularly vulnerable to non-compliance risks, with high staff turnover and regular use of non-UK resident employees.
 
Our Employer Support group specialises in PAYE and NIC compliance, carrying out regular health-checks on clients procedures. For our restaurant clients, we have advised on the `before and after effects of PAYE inspections, set up structures to avoid national insurance on troncs, and assisted in obtaining P11d dispensations.

Corporate finance
Our team are able to work alongside your management and finance teams to support your projects and future planning. We can provide assistance in areas such as fund-raising and shareholder exit planning.