Hospitality is the third largest sector in the UK, employing 2.9m people and generating £130bn in economic activity.
With 70% of restaurants closing down within five years of opening, robust financing is key.
Our team can advise you on an all-encompassing financial plan, from initial investment to management and annual account to ensure you’re in the most robust financial position. Whether you’re a start-up, Freelance Chef, or an established company, our restaurant sector experts can help your businesses develop and grow every step of the way.
We specialise in advising large, independent restaurants in the West End and Greater London area, and also act for small chains. Our clients include some of the most prestigious restaurants in London.
Our team can take care of your regular financial needs, including payroll services, tronc schemes, bookkeeping, audit, accountancy and corporation tax. We are also experts in restructuring and claiming capital allowance for restaurants.
Through access to an extensive salary/wage rate database, we’ll advise you on the correct market wages, maximising your profitability and helping with staff retention.
If you’re borrowing from a bank, your shareholders may require you to have an audit. If your business meets at least two of these three criteria you will be required to have a statutory audit: £10.2m turnover, £5.1m gross assets, 50 or more employees. Even if you don’t fall into this category, your financial stakeholders may still require an audit. We can conduct a thorough, seamless audit, working closely with you and your business to pre-empt any potential issues and address them early.
We prepare annual accounts in accordance with statutory requirements, ensuring your business remains compliant.
We have a dedicated VAT department which can advise on the impact of VAT on takeaway food as well as cold food. There are some complexities with VAT on food where our professional advice can bring clarity.
Structuring the business payroll and utilising the tronc rules can be the difference between a restaurant making a profit or a loss. Our clear, professional advice will ensure your PAYE matters are structured correctly.
We specialise in capital allowances and minimising your corporation tax through optimal structuring.
We have a wealth of experience of dealing with restaurants and can advise on best practice and systems to improve your business.
We specialise in budgeting and preparing cash flow forecasts so our clients can foresee unexpected issues.
Our team has extensive experience with HMRC enquiries, particularly ones involving PAYE/NIC, Schedule E, benefits in kind and employment status issues, and can help make these investigations as straightforward as possible.
We are well-versed in understanding the various systems used in restaurants for bill and stock control, HK systems, and can ensure you have the best operating system in place for your business.
Our specialist valuation team can help you with shareholder disputes, probate, and buying and selling restaurant businesses.
We’d love to hear from you. To book an appointment or to find out more about our services:
