Don’t Let Profits Slip in Your Hospitality Business! Let Our Specialist Accountants Help You to Streamline Your Costs and Increase Your Profits.

With tight margins and fluctuating, seasonal income, keeping your hospitality business profitable can be tough! Recent changes to the PAYE regulations, with online reporting to HMRC have just complicated matters further and caused more issues for many hotels, pubs and restaurants.

But you don’t have to deal with them alone. With over 100 years combined experience working with everyone from small B& B’s to hotels, pubs and restaurants to larger corporate hospitality providers and planners, we understand the challenges you face. We know how to keep you in the black and make managing your finances stress free.

Your dedicated accountant is experienced in the hospitality and catering industry and will help you to:

  • Budget effectively so you can streamline your expenses and manage your overheads.
  • Grow your hospitality business by identifying potential growth areas and new income streams.
  • Get access to potential investors and prepare the necessary accounts that help you to get the investment you need to expand and grow.
  • Keep up to date and compliant by proactively giving you deadline reminders.

At Mapus-Smith & Lemmon we understand that all hospitality businesses are a little different and that you face a unique set of challenges. That’s why you get a dedicated accountant who will get to know you and your business personally. With regular contact and face to face meetings they’ll work very closely with you to help identify problem areas in your business, minimise your costs and maximise your profit.

Whether you’re a new business looking for investment or an establish company looking to maximise your profits, our clear, transparent pricing allows you to budget for your accountancy costs and makes sure you get the help and support you need without any surprise bills at the end of the year.

Call us today to find out more about our specialised hospitality accountancy service.

Frequently asked questions

FAQs

Are tips that my staff receive taxable?

Yes – there are a number of ways that these can be dealt with. Either applied to each individual’s pay or via a “tronc” where tips are pooled and taxed together via a separate payroll system.

Banks will not lend in this industry how can you help?

This is a common misconception. Lenders will consider each application upon its own merits, and assess, affordability, security and profitability. It is vital that businesses can demonstrate a well thought through business plan and viable financial information.

How successful is my business compared to others in my industry?

We regularly obtain industry financial performance information. Whilst we appreciate that these are averages they give a good guide to business performance and can be used as a useful comparative to ratios, such as staff costs and gross profit margins, we can help identify areas for improvement with a view to increasing your profitability.

Should I operate as a Limited Company?

The answer to this question depends upon a number of factors such as borrowings, profitably, future plans etc. We can assess your overall financial position and advise accordingly.

Should I own my business premises via a Limited Company or Personally?

A number of factors should be taken into account when deciding the best option, such as taxation, future plans and funding to name a few. We can analyse your personal circumstances and provide you with detailed options for ownership.

What our Happy clients Think of us

EXAMPLE OF HOW WE CAN HELP YOUR LEISURE BUSINESS

EXAMPLE OF HOW WE CAN HELP YOUR LEISURE BUSINESS

Find our how we helped a pub/restaurant owner obtain finance to buy a second pub/restaurant business.

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Latest News & Updates

The latest news and expert advice from Mapus-Smith & Lemmon chartered accountants

Our offices

King's Lynn

48 King Street, King's Lynn,
Norfolk PE30 1HE

  01553 774761

  advice@mapus.co.uk

Monday to Friday 8.45am to 5pm

  Click here to view map of our King's Lynn office

Downham Market

23 London Road, Downham Market,
Norfolk PE38 9BJ

  01366 383300

  advicedm@mapus.co.uk

Monday to Friday 8.45am to 5pm

  Click here to view map of our Downham Market office

Wisbech

30 Old Market, Wisbech
Cambridgeshire PE13 1NB

  01945 427050

  advwisb@mapus.co.uk

Monday to Friday 8.45am to 5pm

  Click here to view map of our Wisbech office