Menzies

JULY 4, 2025

Menzies LLP - A leading chartered accountancy firm. 2025 is proving to be a challenging year for hotel businesses. The recent rise in employment costs from minimum wage and national insurance increases, rising energy costs and supply chain disruptions all create financial strain. close close How can Menzies help businesses?

corporation tax

Menzies

MARCH 26, 2025

Menzies LLP - A leading chartered accountancy firm. Overview As we expected, todays Spring Statement brought few surprises Hospitality & Leisure sector. Hopes for cuts to announcements in the Autumn Statement, such as rise in employers national insurance, were dashed.

Hospitality

Menzies

DECEMBER 23, 2024

Menzies LLP - A leading chartered accountancy firm. Manufacturers should prepare to adapt their strategies to account for potential tariffs and shifts in trade relationships. Bethan Evans | Partner Hospitality and Leisure We see the different parts of the hospitality and leisure sector having a mixed 2025.

Hospitality

Menzies

MARCH 6, 2025

Menzies LLP - A leading chartered accountancy firm. Increasing demand for retailers Some retailers and other industries such as hospitality and leisure have been requesting the return of VAT free shopping for retailers, as since its abolition in 2020, as this has cost the economy an estimated 10.7m in lost GDP annually.

Retail

Menzies

JUNE 24, 2025

Menzies LLP - A leading chartered accountancy firm. For the hospitality sector where zero hours contracts are useful for managing peaks, it would be worth reviewing staffing levels now and planning ahead to see what staffing needs may look like, and how many regular hours contracts may be offered to employees.

Hospitality

Menzies

JULY 4, 2025

Menzies LLP - A leading chartered accountancy firm. As the hospitality industry continues to recover and grow since the pandemic, adopting digital transformation has become more important than ever before. According to recent research, 66% of restaurants have adopted QR coded ordering solutions.

Hospitality

Menzies

NOVEMBER 9, 2023

Menzies LLP - A leading chartered accountancy firm. Despite gradual signs of recovery, the UK hospitality and leisure sector grapples with an array of challenges in 2023, including escalating costs, disruptions in supply chains, and persistent labour shortages. Find out more about our Hospitality & Leisure services here.

Hospitality

Menzies

SEPTEMBER 19, 2024

Menzies LLP - A leading chartered accountancy firm. With the new Labour Government’s first budget approaching on 30 th October 2024, our Hospitality & Leisure team are looking ahead to what Keir Starmer could do to alleviate the ongoing challenges faced by the sector.

Hospitality

Menzies

FEBRUARY 14, 2024

Menzies LLP - A leading chartered accountancy firm. As we approach the Spring Budget on 6 March 2024, the UK Hospitality and Leisure sector faces ongoing challenges. UK Hospitality advocates for a 3% cap on business rates increases which would support cash flow and encourage investment.

Hospitality

Menzies

APRIL 12, 2024

Menzies LLP - A leading chartered accountancy firm. Hospitality & Leisure has arguably been the most severely hit sector over the last few years, and although the sector is showing signs of recovery, trading conditions remain challenging with high costs and ongoing labour shortages.

Hospitality

Menzies

FEBRUARY 12, 2024

Menzies LLP - A leading chartered accountancy firm. In 2023, the hospitality sector grappled with a myriad of challenges, from staff shortages and rising costs to economic uncertainty and changing customer expectations. One avenue gaining prominence is the adoption of Environmental, Social, and Governance (ESG) principles.

Hospitality

Menzies

NOVEMBER 23, 2023

Menzies LLP - A leading chartered accountancy firm. Chris Maloney, Business Advisory Partner and Head of the Hospitality & Leisure team at Menzies LLP At a time when hospitality sector business insolvencies are rising at a rate of 66% year on year, there were high expectations for today’s Autumn Statement.

Hospitality

Menzies

AUGUST 18, 2023

Menzies LLP - A leading chartered accountancy firm. As of 1 August 2023, the government has implemented a new, ‘simpler system’ which is expected to have a significant impact on producers, consumers and the hospitality industry. What is the likely impact of the changes on the UK Hospitality Industry?

Hospitality

Menzies

OCTOBER 27, 2023

Menzies LLP - A leading chartered accountancy firm. The UK hospitality and leisure sector has faced a number of challenging circumstances over recent years, which have distracted operators away from tackling the sustainability issue.

Hospitality

Menzies

JANUARY 29, 2024

Menzies LLP - A leading chartered accountancy firm. Navigating the post-Christmas slump can pose significant challenges for businesses, especially those in the hospitality and leisure sector. As sales dip after the festive season, maintaining cash flow becomes crucial.

Hospitality

Menzies

FEBRUARY 2, 2024

Menzies LLP - A leading chartered accountancy firm. Many hospitality businesses do not realise that they may have inadvertently overpaid VAT during the tumultuous period of the pandemic, after the reduced rate was introduced in 2020. Are you overlooking a golden opportunity? Are there any exceptions?

Hospitality

Menzies

DECEMBER 4, 2023

Menzies LLP - A leading chartered accountancy firm. As we approach the holiday season, the hospitality industry stands at a pivotal juncture this year. However, the past 12 months has seen significant changes across the hospitality landscape.

Hospitality

Going Concern

JUNE 8, 2023

It appears the Institute of Chartered Accountants in England and Wales (ICAEW) has finally pushed Sheffield University’s Richard Murphy over the edge. The Professor of Accounting Practice at Sheffield’s Management School issued a new report chastising the group for hoarding funds. In 2019, the FRC fined PwC £4.55

institute of chartered accountants

Going Concern

MAY 28, 2024

The local news in Cincinnati covered this strategic move : One of Greater Cincinnati’s largest accounting firms is being acquired by an Indianapolis company. The Institute of Chartered Accountants in England and Wales (ICAEW) has published a report called Evolution of Mid-Tier Accountancy Firms. Let’s find out.

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PYMNTS

MARCH 30, 2020

recent reports in the Financial Times said the Cabinet Office has encouraged all public entities, including government departments, hospitals, councils and schools, to continue their supplier payments and coordinate with their vendor bases. In the U.K.,

B2B

Menzies

MARCH 7, 2024

Menzies LLP - A leading chartered accountancy firm. An uninspiring Spring budget for Hospitality & Leisure businesses as the Chancellor fails to deliver support for the sector. Meet our Hospitality & Leisure specialists For more budget commentary click here.

Hospitality

Menzies

JULY 8, 2024

Menzies LLP - A leading chartered accountancy firm. Labour’s, Sir Keir Starmer is poised to bring numerous changes, which will lead to implications in the Hospitality and leisure sector. Labour’s, Sir Keir Starmer is poised to bring numerous changes, which will lead to implications in the Hospitality and leisure sector.

Hospitality

Menzies

NOVEMBER 24, 2023

Menzies LLP - A leading chartered accountancy firm. Overview Business Rates multipliers for small business will be frozen for another year, helping to support the hospitality and high street Increased national minimum wage impact on the cost of products and passing this on to end consumer.

Retail

Menzies

JUNE 26, 2024

Menzies LLP - A leading chartered accountancy firm. With the UK General Election taking place in just a matter of weeks on 4 July 2024 and the leading parties having released their manifestos, we have summarised below some of the main policy promises that would impact the Hospitality & Leisure sector.

Hospitality

Menzies

JUNE 26, 2024

Menzies LLP - A leading chartered accountancy firm. With the UK General Election taking place in just a matter of weeks on 4 July 2024 and the leading parties having released their manifestos, we have summarised below some of the main policy promises that would impact the Hospitality & Leisure sector.

Hospitality

Menzies

APRIL 12, 2023

Menzies LLP - A leading chartered accountancy firm. Hospitality and leisure businesses deliver experiences and the quality of those experiences will depend on the talent, skills and enthusiasm of their people.

Hospitality

Menzies

MARCH 17, 2023

Menzies LLP - A leading chartered accountancy firm. The struggles surrounding the Hospitality and Leisure industry are being amplified by the current cost of living crisis as well as the seemingly everlasting effects of the Coronavirus pandemic.

Hospitality

Menzies

FEBRUARY 1, 2024

Menzies LLP - A leading chartered accountancy firm. The construction, hospitality, and retail sectors were hit the hardest, likely due to their vulnerability to the immediate effects of economic downturns. 2023 Insolvency Statistics in a nutshell The number of overall insolvencies recorded reached a 30-year high.

Hospitality

Menzies

JUNE 19, 2023

Menzies LLP - A leading chartered accountancy firm. Hospitality & Leisure Outlook According to Barclays’s 2023 Hospitality and Leisure Outlook , in 2022, many businesses in the hospitality and leisure sector reported upward of 100% growth vs 2019. Businesses are having to pay more to acquire talent.

Hospitality

Menzies

SEPTEMBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. The resulting impact on discretionary spending has led to reductions in consumer spending in the Hospitality and Leisure sector, placing extra pressure on restaurants. Brexit has impacted the supply of labour to the industry and is still causing headaches for most operators.

Hospitality

Menzies

SEPTEMBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. The resulting impact on discretionary spending has led to reductions in consumer spending in the Hospitality and Leisure sector, placing extra pressure on restaurants. Brexit has impacted the supply of labour to the industry and is still causing headaches for most operators.

Hospitality

Menzies

OCTOBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. Hospitality businesses are still carrying the scars from Covid and further pressured by rising inflation and the squeeze on consumer spending. A change in priorities and attitudes is driving new trends in sustainability strategies for restaurant kitchens.

Hospitality

Menzies

JANUARY 16, 2023

Menzies LLP - A leading chartered accountancy firm. We all want to work smarter not harder and with the growth of Cloud accounting we can have the freedom and insight to stay on top of our business and finances 24/7. The benefits of switching to cloud accounting. Anytime, anywhere, any device. Secure & private.

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Menzies

APRIL 23, 2024

Menzies LLP - A leading chartered accountancy firm. You will now have longer to prepare for a transformative shift in the hospitality industry, as new legislation is set to revolutionise tip handling from this summer. This is an issue for hospitality leaders who want staff to feel rewarded and appreciated.

Hospitality

Menzies

APRIL 4, 2024

Menzies LLP - A leading chartered accountancy firm. Prepare for a transformative shift in the hospitality industry as new legislation is set to revolutionise tip handling from this summer. In this article, we explore the anticipated challenges for Hospitality and Leisure employers, with tips on how to prepare for the change.

Hospitality

Menzies

MAY 12, 2022

Menzies LLP - A leading chartered accountancy firm. The recent reinstatement of a 20% VAT rate is likely to cause severe financial difficulty for many hospitality and leisure (H&L) businesses at a time when costs are rising and many enterprises are still recovering from COVID lockdowns and restrictions. FUTURE THINKING.

Hospitality

Menzies

MARCH 10, 2023

Menzies LLP - A leading chartered accountancy firm. A sector that continues to be hit especially hard by these pressures is the hospitality sector. HMRC struggle to recruit staff However, it is not just the hospitality sector that has been feeling the strain due to lack of labour.

Hospitality