According to the demographically stats of the United Kingdom, the number of hospitality and leisure clubs is increasing at a tremendous scale. It is easy to stay that the hospitality business has been saturating the market and adding into the GDP. There are multiple entities covered under the hospitality and leisure business inclusive of hotels, resorts, theme parks, bars, event planning, lodging, cruise line, and restaurants topped with many others.
However, with the increase in popularity, the industry is facing considerable laws and regulations. The regulations are evolving like anything and industry needs to comply with the accounting standards as well. If there are down or up-scaling of the industry, it poses a direct impact on the economy as the disposable income is imposed. When HMRC policies impact the regulations such as IHT, income tax, and CGT inclusive of ever-changing taxes, the businesses tend to suffer.
At MintAccountax, we have understood that these industries are one of the economy- participative industry and plays an essential role in expanding the economy overall. This is why we are supporting the bars and pubs, night clubs, travel agents, restaurants, caterers, cafes, betting and gaming, corporate hospitality companies, and franchises.
At our business, we have developed a team of accountants that are acquired solely to serve the hospitality and leisure industry as they are equipped with the right expertise and experience. Over the years of service, our team has helped multiple drivers of the industry which enables us to offer the much-needed help. In the case of financial advice, we will be available for the financial reporting, bookkeeping, taxes, and more especially in the hospitality and leisure companies.
Be it the franchises or the outlet programs in the South East and London; we have helped them all. We have understood that this industry suffers unique problems and hurdles. On the other hand, the industry has the unique opportunities as well, and our team has honed the skills of turning the prospects into customers and profits. Our team will help you with hotel tax planning and even the travel agencies.
At MintAccountax, we have devised multiple functions and services for the hospitality and leisure industry inclusive of;
Accountancy, bookkeeping, and tax services – Every hospitality business needs to stay vigilant, compliant, and efficient during their services and in the accounting departments. Our team will help in adhering to these rules and set standards for the accounting.
We will also provide the management accounts, and if you want, we can offer the monthly, quarterly, and annual basis to ensure your business is driving on the right path. Our information will help the businesses ensure enhanced decision-making.
Employment Tax Planning – Employees and human workforce is the biggest asset for any business. At MintAccountax, we will help in retaining and rewarding the staff through the remuneration structures based on the taxes and key personnel.
Value Added Tax – If your business is in need for the VAT returns and the registration, our team has acquired the relevant experience and knowledge which will help in submission after preparation. Be it the theme park ticketing or the tour operator’s marketing and margin schemes; our team will imply the right strategies to devise optimal solutions.
Business Support – For any business, it is crucial to pay keen attention to the each department and operation. As for the businesses, it gets difficult to handle the core business operations as the single entities. Our team will be helpful in elevating the burden by taking over the accountancy and tax matters. We can also provide the accounting services topped with payroll services while you ensure the smooth running of the business operations and induce the growth.
Xero Implementation, training, and Continuing Support – There are multiple businesses that don’t want to outsource the operations regarding the finances. If you have adopted a similar approach and need assistance, we can help is developing the internal accounting systems. Our systems are designed, keeping in mind the business structures and the objectives to be achieved.
Personal Tax Management – Be it the simple tax returns of the capital gain tax planning, we can help in full-spectrum personal tax management. We are offering these services for the business owners and company directors as its essential for the company’s reputation and HMRC policies.