Hospitality is among the largest sectors contributing to job opportunities in the UK. It includes a wide range of businesses, from hotels and caterers to pubs, cafes, bars, and franchisees. If you operate within this sector, you’re likely encountering industry-specific challenges in areas such as accounting, tax, payroll, VAT treatment, and cash flow management. This is where hospitality accountants come in.
At Allenby Accountants, we understand the unique financial challenges hospitality businesses face and can leverage our industry expertise to help you implement effective cost-control measures and improve your cash flow forecasting. Our expert accountants are knowledgeable in industry-specific regulations to simplify your financial management. We tailor our solutions to the unique needs of your hospitality business, ensuring comprehensive support that will allow you to focus on your core tasks and deliver exceptional customer experiences without worrying about finances.
How specialised accountants can help hospitality businesses
Accounting, taxes, and bookkeeping are the core services you can expect from hospitality accountants. At Allenby Accountants, we offer advanced solutions like cloud-based accounting and e-POS to simplify your business finances. Additionally, we can help make capital allowance claims with the HMRC.
Aside from these, we can also offer advice on:
- Compliance with payroll-related laws: We can set up an HMRC-approved tronc scheme and ensure correct calculations for minimum wage, holiday pay, and zero-hour contract employees.
- Cash flow management: We’ll make sure you’re never short of cash, especially when it’s time to pay bills.
- Implementing advanced accounting solutions: Our accountants can recommend booking and ordering software, e-POS platforms, stock management apps, and staff rota management solutions.
- Correct VAT treatment: We’ll ensure you’re charging the correct rates for various food items.
- Finance solutions to grow your business: We work with a network of investors who might be interested in investing in your project. Plus, we can connect you with reputable lenders specialising in hospitality lending.
Whether you own a restaurant, pub, or hotel, hospitality accountants will provide tailored solutions to boost your finances and protect your reputation. Here at Allenby, we have specialised accountants with years of experience in the hospitality industry. Our services will help you make strategic decisions to enhance financial management and increase compliance. Call 0208 914 8887 to learn more with a free initial consultation.
