Elliott qualified as a Chartered accountant in 2016 and has since managed a large portfolio of owner managed businesses, including retail, hospitality, art and charities. Elliott also specialises in technology grant audits and service charge audits.
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.
The latest in our series of quick-fire client interviews, Jeffreys Henry speaks to Dan Anton, co-founder of Lahpet. Lahpet started life as a pop-up in the railway arches of London Fields by co-founders Dan Anton and Zaw Mahesh, before opening their first permanent site in Shoreditch in 2018. Lahpet remains one of London’s only restaurants to specialise in Burmese cuisine. Dan talks about the success of DIY kits during lockdown, how they prepared for indoor re-opening as restrictions eased, and opening their second and largest site in the midst of the pandemic.
The latest in our series of quick-fire client interviews, Jeffreys Henry LLP speaks to Hannah Vernon of Urban Leisure Group. Hannah discusses how the second lockdown and tier restrictions impacted ULG’s performance, how government guidance for the hospitality industry has been unclear and the ways in which ULG have adapted their business model to the changing times.
Yotam, who owns 6 restaurants in London, discusses how the new restrictions have been a hindrance to the recovery of the hospitality industry, what he believes the government should be doing to offer more support and where he sees the future of the industry.
Over 83,000 restaurants have now signed up for the government’s Eat Out to Help Out scheme, designed to protect jobs and boost sales in the hard-hit hospitality sector. In the first week alone, over 10.5 million meals were discounted, however, just how much is this helping the industry?