Restaurants, pubs & bars

This sector has faced mounting pressure in recent months from the negative press surrounding restaurant chains pocketing staff tips, through to the increase in the minimum wage.

We understand that whether managing gourmet or fast-food restaurants, a pub or bar, the success of these businesses depends on their ability to meet their target customers’ needs while running their operations as efficiently as possible.

Our specialist team provides the typical audit and accountancy services you would expect of a firm of our size, in addition to:

VAT compliance
The catering industry faces close scrutiny by Customs & Excise in the way they control the collection of VAT. We have been involved in a number of cases in the catering industry and have negotiated settlements with Customs with the minimum exposure to financial penalty or business disruption.
 
Businesses in this industry should review their VAT accounting system regularly. We help by conducting simulated review visits to provide reassurance that procedures are operating properly and meet Customs’ requirements.

Given the numerous different VAT rates and complex rules with which the catering industry has to comply, our specialist team can also advise and review the VAT rates being used by the business to ensure VAT is only being charged where necessary, and all available VAT is being reclaimed.

PAYE compliance
With the ever-increasing burden of ‘red tape’ and regulation on employers, you will need to be confident that you continue to comply with PAYE, NIC and other employment regulatory requirements. The restaurant industry is particularly vulnerable to non-compliance risks, with high staff turnover and regular use of non-UK resident employees.
 
Our Employer Support group specialises in PAYE and NIC compliance, carrying out regular health-checks on client’s procedures. For our restaurant clients, we have advised on the `before and after effects’ of PAYE inspections, set up structures to avoid national insurance on troncs, and assisted in obtaining P11d dispensations.

Corporate finance
Our team are able to work alongside your management and finance teams to support your projects and future planning. We can provide assistance in areas such as fund-raising and shareholder exit planning.