Hospitality

Our risk-based audit approach focuses on understanding our clients, recognising their business issues and identifying the impact that they may have on the financial statements. Coupled with our sector experience, we can determine the critical audit areas and devise specific testing based on our thorough understanding of each client's structure, organisation and business risks.

We also offer internal audits for hotels and hospitality venues, helping management teams strengthen controls, reduce risk, and gain operational insights.

We provide pragmatic advice on key transactions and offer tailored support for your hospitality operations. Whether you are expanding your portfolio or preparing for a sale, we can help at every stage.

• Sale/purchase advisory and structuring

• IPOs

• Outsourcing (bookkeeping and payroll)

• Due diligence

• Group rationalisation

Our tax team works proactively to minimise liabilities and maximise reliefs available to hospitality businesses, with:

• Accurate preparation of the tax computation and return with minimal disruption

• Time dedicated for innovative thinking, which consistently focuses on ‘how can tax efficiency be improved, now and for the future’

• The timely preparation of tax journals, deferred tax and accounting disclosure tax notes

• Ensuring your hospitality business takes advantage of Capital Allowances and enhanced tax reliefs on new structures and buildings, property purchases and sales, and refurbishments

• Seamlessly advising companies and groups whose directors or employees have an interest in its shares to meet Employment-Related Securities (ERS) reporting obligations

• Advising on transfer pricing including assistance with trading in other EU member states, tax planning and complying with local country transfer pricing laws

• Prepare the non-trading tax returns of the dormant subsidiaries if requested by HMRC

Staying compliant with employment tax rules can be a challenge in the hospitality sector, where workforce turnover is high and staff benefits vary. We offer expert guidance including:

• Advising on PAYE and National Insurance issues in respect of benefits in kind

• Advising on their compliance reporting obligations under the business expense payments regime

• Drafting and updating staff expense and travel expense policies

• Assisting with HMRC employment status reviews and helping to implement an internal review process

• Structuring termination payments

• Advising on National Living and Minimum Wage regulations

• Managing HMRC reviews

Our outsourcing team have a flexible approach and we can adapt our involvement depending on each client's needs. We are able to offer a full outsourcing service where we would take full ownership of the bookkeeping and management accounts preparation. Alternatively, we can be involved with the data input, bank reconciliations or a high level management accounts review to alleviate the pressure on a clients finance team and we’re happy to tailor a solution which fits with each type of business.

Many clients in hospitality use our outsourced accounting solutions to free up internal capacity while maintaining financial accuracy and control.

Share option schemes participation schemes and, if required, liaising with legal experts to design the most appropriate scheme to incentivise employees.

An EMI scheme is a highly tax efficient scheme, in which we have a wealth of experience in advising, putting in place and providing a full service. We would need to understand further details around the option scheme including the number of individuals in the scheme, performance criteria, vesting period etc.

We frequently support hospitality businesses in designing staff retention schemes that align with fluctuating workloads and seasonal performance.

We have several experts that provide specialist advice on raising finance via the EIS, Seed Enterprise Investment Scheme (SEIS) and Venture Capital Trusts (VCTs). In cases in which any of these have already been exhausted, we would still advocate that advice is sought from one of our tax specialists to discuss other available options.

For existing investors, our services also include advice on how the company can maintain its qualifying EIS status and obtaining assurance from HMRC in the event that there are any changes to the company’s activities.

These tax-efficient finance options are especially useful for scaling hospitality ventures looking to expand locations or develop new concepts.

Our specialists will help you make informed decisions by providing independent and objective assurance on your governance, risk management and control environment. Beyond peace of mind, we’ll help you assess performance in different areas of your organisation and so identify operational efficiencies. Our risk assurance services are particularly valuable for hotel and leisure groups aiming to improve operational consistency across multiple sites.