How to Calculate Profit Margin in a Hospitality Business (And Why It Matters)
High Sales Do Not Always Mean High Profits (calculation for profit margin) Many hospitality business owners focus heavily on sales. But revenue alone does not …
Payroll Errors in Hospitality Businesses: Why Small Mistakes Become Expensive Problems
Payroll errors Don’t Just Affect Payslips. They Affect Your Entire Business. Most hospitality business owners don’t think about payroll until something goes wrong. An employee …
Cash Flow Management and Forecasting for Hospitality Businesses
Busy Hospitality Businesses Don’t Usually Fail Because Sales Stop. They Fail BecauseCash Flow Management and Forecasting for Hospitality Many hospitality business owners assume that if …
Bookkeeping for Hospitality Businesses: The Hidden Reason Profitable Businesses Run Out of Cash
Your Hospitality Business Might Be Busy, But Is It Actually Profitable? Many hospitality business owners assume that if customers are coming through the door, bookings …
School Fees Benefit in Kind: What UK Directors and Employers Need to Know
School Fees Benefit in Kind Is a Costly Area Many Directors Misunderstand Many UK business owners ask whether their company can pay private school fees …
Cash basis for landlords
As for unincorporated trading businesses, the cash basis is the default basis of accounts preparation for landlords running an unincorporated property business. However, unlike traders, …
Extracting profits as rent
Where a business is run through a personal or family company, the directors/shareholders will need to extracting profits if they are to be used personally. …
Utilising the property allowance
Utilising the property allowance The property allowance is essentially an additional personal allowance for income from property. It allows individuals to enjoy property income of …
Associated companies
Over time, companies or associated companies may accumulate substantial cash reserves. Whilst funds are commonly extracted through salary, dividends or pension contributions, another possibility is …
Alphabet shares – A way to reduce tax
When a company pays a dividend, all shareholders holding the same class of shares must receive dividends in proportion to their shareholdings. To pay dividends …
Alternative dispute resolution
The first indication a taxpayer may receive that they are the subject of a tax enquiry or investigation is a letter from HMRC, often headed …
Reclaiming the cost of statutory payments
Employers must make statutory payments to employees who meet the eligibility criteria. This includes statutory maternity pay (SMP), statutory paternity pay (SPP), statutory adoption pay …
