There are a number of accounting tools that can be used by restaurants, bars and hotels to ensure that their financial operations are properly managed and used correctly. Financial tools provide real-time financial data which can help you capitalise on opportunities and plan better. Below is a list of some of the best accounting tools which we would recommend for your hospitality business.
Between 1 April 2021 and 31 March 2023, companies can claim a super-deduction in the form of first year relief of 130% on qualifying plant and machinery additions. This means a company spending £100,000 on qualifying assets would have £130,000 deducted against its taxable profits, resulting in a tax saving of £24,700 per £100,000 of expenditure.
Following the recent Wickford Developments decision, any property developer who has been refused VAT refunds on installing manual roller blinds into new homes should review the VAT lost in the past 4 years with a view to making a claim from HMRC. This decision follows that of an earlier case that HMRC chose to ignore (John Price) and HMRC were criticised for continuing with a policy that the courts had disagreed with.
Jeffreys Henry LLP, the award-winning provider of audit, tax and advisory services to LSE, AIM and Aquis listed companies, has recently advised Mode Global Holdings Plc, a UK based founder led fintech group, on its £40.3 million IPO on the Standard Segment of LSE’s main market.
Next up in a series of quick-fire client interviews held during lockdown, Jeffreys Henry LLP speaks to Emilio Sanz, CEO of Acurable, a London-based medical devices company. Acurable is known for the AcuPebble sensor, the first wearable medical device to accurately diagnose and manage respiratory conditions at home. Emilio speaks to us about how healthcare companies are adapting to the new normal, shares his advice for others in the industry and gives us an insight into the future of Acurable and medical technology.