articles: Hotels & Hospitality

GDPR: the impact on the hotel and leisure sectors

Organisations within the hotel sector globally will have until May 2018 to comply with the EU General Data Protection Regulation (GDPR) or potentially face fines of up to 4% of annual turnover or €20 million – the greater of. Organisations need to ensure that their Data Protection Officers, IT directors or managers are fully up to speed so that their operations are compliant.

Is a 'fractional interest' in a property a holiday let?

A recent First-tier Tribunal decision, in the case of Fortyseven Park Street (the company), has concluded that the supply of a ’fractional interest in a property’ (similar to a time share), should be subject to VAT at the standard rate of 20%, on the basis that the supply is one of accommodation provided by a hotel or ’similar establishment’, a supply which is specifically excluded from exemption further to the VAT Act 1994, Schedule 9, Group 1, item 1(d).

This recent VAT case may have significant implications for exhibition organisers

A recent decision in the Upper Tribunal case of Kati Zombory-Moldovan t/a Craft Carnival has found that an exhibition organiser’s services went beyond the passive supply of a pitch or a licence to occupy land, which would have been exempt from VAT, and was actually the provision of ‘a service of participation as a seller at an expertly organised and expertly run antiques and collectors fair’ and, as such was liable to VAT at the standard rate of 20%.

The Budget 2016 – video summary

A sugar-coated Budget for the next generation

In the uncertain global economic environment, the Chancellor’s deficit-reduction goals have become more challenging. But he still managed to strike an up-beat tone when delivering “a Budget that puts the next generation first”.

IFRS 16 Leases - The impact on the hotel sector

It’s been a long, long wait, but we finally have the international standard dealing with leases, IFRS 16.

It will still be a few years yet before the first financial statements are published which have to comply with the new standard, since it is effective for periods beginning on or after 1 January 2019, although early adoption is allowed.
 

An Autumn Statement for “rebuilding Britain”

Five years since delivering his first spending review, George Osborne spent over an hour delivering his 2015 Autumn Statement. He repeatedly stated the Government’s intent to build public services, infrastructure, national defences and strong public finances.