Leisure and hospitality current issues

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Our experts are aware of current developments in the leisure and hospitality sector and through our proactive approach, we inform our clients of any issues that may affect them.

The current economic climate is providing significant challenges to many businesses in this dynamic sector. Hotels, pubs, and restaurants are facing challenging times with fierce global competition and increasing cost pressures remaining key factors.

Cost pressures – the new National Living Wage
The industry has seen rising costs in terms of minimum wage, VAT rises, business rates and prices on the back of increasing global and local competition. The leisure and hospitality sector performed well in 2015 on the backdrop of an improving marketplace and increasing consumer confidence. However, the impact of the new National Living Wage could slowdown that growth throughout 2016 as businesses look to overcome a significant rise in wage bills.

For more information please get in touch.

Business rates
The Chancellor recently announced a number of positive measures to reform business rates in the UK: Firstly, business rates have been devolved to Scotland, Northern Ireland and Wales. Secondly, there will be cuts on business rates for approximately half of all properties in England from 1 April 2017.

For more information please get in touch.

The apprenticeship levy
In April 2017 the way the government funds apprenticeships in England is changing, with the introduction of the new apprenticeship levy. The government first announced the new apprenticeship levy in the 2015 Autumn Statement, but has since provided additional details on how the levy will work.

For more information please get in touch.

Brexit
On 23rd June 2016 the UK voted to leave the European Union. From the argument over selling bendy bananas to the threat of an emergency Budget, the EU referendum campaign has undoubtedly had its share of the headlines over the past couple of months. The biggest headline now though is of course that the UK has voted to leave the EU.

For more information please get in touch.

Energy efficiency

Energy efficiency

There are numerous opportunities for operators within the leisure and hospitality sector to reduce costs by becoming more energy efficient and more waste efficient. In this article we look at how firms could reduce their energy bills, how much it might cost and why it is becoming increasingly more important.

For more information please get in touch.

Contact us for a free initial meeting

To find out more about how one of the leading firms of accountants in Sheffield, Doncaster and Northampton can help you, please contact one of our specialists. We believe in long-term client relationships and understand the importance of meeting to establish that you like us and we like you. This is why we offer all new clients a free initial meeting which will enable you to have a discussion about you and your business issues.

To book your free initial meeting, please click here.

We look forward to hearing from you!

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