Leisure and Hospitality
Whether you're a B&B or a Holiday park, Stephenson Smart can provide a range of services that add value and support your needs.
At Stephenson Smart, we've been providing accounting services for the leisure and hospitality industry for years and recognise that the industry is a major - and growing - component of the Norfolk economy. It is an extremely diverse sector, and we have a long history of advising clients in a variety of businesses, both large and small, which fall under this general heading on their accounting needs.
We are able to provide advice on hotel accounting, hospitality industry accounting, and many other accountancy services from our offices in King's Lynn, Fakenham, Downham Market, March and Wisbech. We have a long track record of advising clients in these sectors, including, but not limited to clients involved in the operation of:
- Travel and Tour operators,
- Sports & Health Clubs,
- Golf Clubs,
- Holiday Parks,
- Pubs, restaurants & bars.
We understand that, faced with a challenging economic environment and an increasing burden of regulation, businesses require assistance dealing with issues specific to their circumstances and business objectives.
Services for tourism, leisure and hospitality sectors
Whatever the size of your business - from large hotels to bed & breakfast houses to spas - our specialist team can offer the following services:
- Preparation of accounts,
- Statutory and non-statutory audit services,
- Corporation and Income Tax compliance and tax planning,
- Restructuring and fundraising assistance with the preparation of management accounts, cash flow forecasts etc.
- Assisting with business acquisitions,
- Assistance with VAT and PAYE/National Insurance, including Auto Enrolment, minimum wage legislation and the operation of TRONCS,
- Specialist VAT advice, in particular as it applies to sponsorship issues, property acquisitions/disposals caravan parks and gaming machines. In the case of Golf Clubs, the application of VAT to Green Fees. In the case of travel and tour operators, assistance with the Tour Operator Margin Scheme.
- Supporting investment and expansion plans through commercial due diligence,
- Assisting with the acquisition, development and sale of property and brands,
- Franchise advice,
- Advising on financial and operating effectiveness,
- Dealing with retirement and changes of ownership, including Capital and Inheritance Tax matters,
- Providing outsourced services, such as payroll maintenance,
- IT advice,
- In the case of travel and tour operators, assisting with ATOL applications and other areas of industry regulation and compliance.