We have considerable expertise working with independent hoteliers. As accountants, auditors and business and tax advisers we involve ourselves closely in your day to day operations. We understand the opportunities, challenges and problems faced by hoteliers and, with Revenue and employment law requirements becoming increasingly stringent, it is critical to seek the right advice at the start, to plan for success and avoid expensive errors.
Running a successful hotel, however small, takes more than providing comfortable accommodation, good food and the right ambiance. Whilst those are all crucial, it is also vital to seek advice from specialist accountants to ensure success.
We can help with budgeting, forecasting and cashflow. And we will work with you on the all-important calculation of ‘break even’ points in relation to occupancy and average rates, taking into account fixed and variable overheads.
This isn’t the place to go into detail about proper control over the usage of food and more particularly, management of your bar, or to say that these are key to ensuring delivery of a healthy profit. Discussing discipline over margins, knowing how to staff your business correctly and not falling foul of HM Revenue & Customs rules are all important considerations we can discuss when we meet.
Working with us will ensure that you structure your business correctly and by advising on a suitable trading vehicle, be that a limited company, partnership or limited liability partnership (LLP), we will identify the most appropriate one for your circumstances. Dealing with all of the compliance aspects such as VAT, payroll, bookkeeping, management accounts and instigating proper internal controls, will free you up to concentrate on running and growing your business.
We can advise you on different options for raising finance including the Enterprise Investment Scheme (EIS), designed to help smaller trading companies by offering a wide range of tax reliefs to outside investors.
In other words, we’d like to help you get the infrastructure right to help shape your financial success.