hospitality & leisure
auditors and tax advisers to restaurants, pubs, bars, hotels and clubs
Our presence in the hospitality industry began when we introduced an innovative VAT scheme to one of London’s Clubs, word quickly spread and we now act for over 50% of such Clubs, ranging from the very traditional to the new and modern.
We used this experience to branch out to bars, restaurants, pubs hotels and golf courses and we now act for many well known names.
Our Team is based out of one office in Holborn, central London but we have clients right across the UK. Our Hospitality Team is led by partner, Andrew Ball.
As well as providing audit and business tax services, we offer assistance with ad hoc issues such as iXBRL conversion and financial modelling and benchmarking projects. We outline some recent examples below.
Pub and restaurant group – 333 Holdings Ltd
· Heavily involved in the opening of the venture, Devonshire Terrace, near Liverpool Street Station. We acted as a link between the company and the bank, assisting in the budgeting process.
Restaurant group - confidential
· Conducted the financial due diligence and production of complex financial models to see how the pubs fit into the Group along with a review of the sensitivity of cash flows and profits.
· Reconstruction of the corporate vehicle with a view of accessing favourable rates of capital gains tax (under the Entrepreneur Relief Provisions) not otherwise available on a simple asset sale of the business.
Leisure group – Longshot plc
· Advised the Group on the sale of its world class gym, The Third Space.
· Provided support in the restructuring involved with a management buy-out of two pubs and a restaurant.
· Recently advised on the purchase of four pubs for the Group.
For hoteliers, restaurant owners and other entrepreneurs we provide personal tax advice.