Accounting for small businesses
Cracking the hospitality service industry in London takes more than great food and service. The most effective restaurants and catering companies are always on top of their books. Accordingly, London accounting for small businesses can be a crucial asset for success.
Plus Minus specialists
We provide specialist support for the London hospitality sector. We draw on industry experience to act on restaurant owners and catering companies’ behalf and we offer this support throughout your business life cycle.
Above all, we’re committed to cost-effective solutions that streamline your everyday admin.
London accounting for local business
A good chartered accountant will keep your tax bills low. This is especially important in food service, since margins can be tight. First, we’ll analyse your business structure to offer solid tax planning advice. We’ll also look at food cost, kitchen control, pricing and wages, among other factors.
Furthermore, we’ll look at tax breaks, deductions, and reliefs. These can be vital to mitigate liabilities.
Corporation tax is one of the biggest when running a limited company. It’s also a key area for savings. We can advise on efficient ways to manage and extract your profits. Sometimes, we can eliminate corporation tax entirely.
Year end accounts and tax returns are an annual admin burden. This is especially true in food service, where time is at a premium.
That’s where we come in.
We routinely prepare accounts, statements and audits for small businesses. And we’re adept at filing returns for those with more on their plate. Moreover, we’ll minimise your tax bill while we’re at it.
Your accounting must support whatever stage you’re at. Accordingly, we’ll turn small businesses concepts into viable business plans if you’re just starting out. We’ll also advise on raising finance. Later, we can help you plan for restructuring or franchising.
If you’re looking for an exit strategy, our team can help find a buyer. We’ll also value your business and handle tax issues that arise.
VAT is complex at the best of times. And it’s no different in hospitality.
Again, chartered accountants can help. We’re experts in VAT compliance, including industry-specific rules on hot and cold food.
We’ll also set up and manage your payroll system. This includes advice on efficient tronc systems for distributing tips to staff. And while bookkeeping, we’ll forecast your cash flow to account for seasonal variation.