The hospitality industry is one of the most diverse, creative business sectors in the UK with many opportunities for growth. It also is one of the most challenging, with tightening consumer spending and rising costs, impacting on many businesses, notably the casual dining sector.
The sector also faces competition for disruptors, with many businesses increasingly looking to re-evaluate their business models. For example, the hotel sector has changed dramatically with the rise of virtual communities, Airbnb and online travel agents.
How our team of hospitality accountants can help
We have considerable experience in the hospitality sector, working with a wide range of clients across the UK, from independent operators to national chains, from coffee shops to Michelin Star restaurants. With a deep understanding of the issues facing the sector, Alexander & Co have a specialist team of advisors to assist you.
Whether you are a startup looking to grow, an established business looking for investment to branch out or a national chain, we have the know-how to help your business flourish and provide you with a competitive edge.
Accountancy for the hospitality sector
Businesses in this sector that we can add real value and assist include:
- Community clubs
- Sporting clubs
- Gaming venues
Services for the hospitality sector
We can assist you in your day-to-day accounting practices and can give advice on margins, tips and troncs as well as suggesting and implementing accounting systems.
We provide strategic advice on business growth and expansion as well as sourcing finance, including tax-efficient investment and business structures.
Our specialist tax department can advise on VAT, capital allowances and all areas of the company and personal taxation.
We provide a full range of specialist accountancy, tax and business advisory services to clients in this sector. Frequently used services include:
- Advising on business growth and financing of new developments/expansion
- Annual Investment Allowances, to maximise tax relief available on capital expenditure
- Business valuations
- Capital Allowances
- EIS & SEIS funding
- Funding solutions, including financial forecasting and cashflow modelling
- Group restructuring and remuneration planning
- Outsourced financial management and payroll services
- Retention planning
If you would like to learn more about the above areas, take a look at our news section. It’s regularly updated with the latest developments in the hospitality sector.
Tackling COVID-19 challenges in the hospitality sector
Of all the sectors affected by COVID-19, hospitality is among the worst-hit. Many businesses have unfortunately had to close, while others are hanging on. If your business has experienced a significant downturn in revenue because of the pandemic, or you need advice regarding what the government may be able to do for you, simply get in touch with us or visit our COVID-19 business advice hub.
Whether your enquiry concerns a tax matter, or you are thinking about how business restructuring may help your business, we can advise in most areas. We like our clients to think of us as growth business accountants, because our expertise goes beyond tax matters alone. We have the experience to guide your business in the right direction.
Get in touch our hospitality accountants
Working in the hospitality sector comes with a unique set of challenges. To overcome many of them, you’ll need a trusted and expert team of accountants. To talk through your options with us, give us a call on 0161 832 4841, email email@example.com or fill out the contact form on this page and one of our experts will be in touch.
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