chartered accountant, Hospitality and Sales

Navigating the New Year Slump: Mastering the Art of Cashflow for Hospitality Businesses

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

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How will Alcohol Duty Reform affect the hospitality industry?

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

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Navigating the staffing challenges in the hospitality sector for a smooth festive season

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

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Post Pandemic VAT Recovery Alert: The Overlooked Opportunity for Hard-hit Hospitality Businesses to Maximize Refunds

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? Thereafter the rate went back up, first to 12.5%

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Focusing on Sustainability for UK Hospitality & Leisure Businesses

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. This helps inform your customers on their decisions over food choices.

Hospitality

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Professor Accuses Professional Accountant Body of Hoarding Fines Like Smaug Hoards Gold

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

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What’s next for your Pub – and how can you position yourself to succeed?

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. Do you know your market and niche?

Hospitality

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Is your restaurant business hitting the two most critical key performance indicators?

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

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Is your restaurant business hitting the two most critical key performance indicators?

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

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COSTS IN THE H&L SECTOR, WHAT’S THE IMPACT OF THE VAT INCREASE?

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.

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When the going gets tough, businesses can’t afford to stand by – so they must act

Menzies

FEBRUARY 9, 2023

Menzies LLP - A leading chartered accountancy firm. Better-than-expected sales statistics from retailers and hospitality & leisure operators collected since the start of the festive period, and the announcement that the UK economy grew by 0.1

Hospitality

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B2B Payment Terms In Flux Amid Market Volatility

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., including Morrisons and Tesco, similarly vow to accelerate their B2B payment cycles.

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How will an inventory management system support business growth?

Menzies

FEBRUARY 7, 2023

Menzies LLP - A leading chartered accountancy firm. Never miss a sale Sales and profitability are the key components of business growth. Having a poor inventory system can wreak havoc on sales, leading to lost opportunities. As a SME knowing what you have and have not got in stock is crucial.

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From the city to corporate event management

Menzies

FEBRUARY 1, 2023

Menzies LLP - A leading chartered accountancy firm. Menzies were appointed as his accountants and business advisors. Menzies could assist with the sale and of course, make the appropriate fees. Our client had been an IT Consultant in the City. He wanted to combine his favourite pastime with a business idea.

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Autumn Statement – Although investors and companies might have wished for more, the markets react calmly

Menzies

NOVEMBER 30, 2022

Menzies LLP - A leading chartered accountancy firm. This includes plans to freeze the business rates multiplier for another year, and to provide additional relief of up to 75% for retail and hospitality and leisure companies. But the Chancellor has promised to aid those most impacted by the changes, with a £13.6

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Aggregation of marginal gains – It’s all about the percentage improvements

Menzies

FEBRUARY 10, 2023

Menzies LLP - A leading chartered accountancy firm. The aggregation of marginal gains – aka the 1% rule The theory is that by making small increases or changes to one, two or even three key areas in a business the positive impact on a company’s profit and loss account can be substantial. How about a 1, 2 or even 3% change?

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The customer is king but are they delivering value?

Menzies

DECEMBER 15, 2023

Menzies LLP - A leading chartered accountancy firm. The business owner may want to assess whether the following actions have been carried out: Renegotiation of the customer’s sale price Clarification of credit terms Making a client aware of historic scope creep Asking for more business, referrals, testimonials etc.

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Is your profit data misleading you? Part 1 – valuable insight

Menzies

DECEMBER 19, 2023

Menzies LLP - A leading chartered accountancy firm. As part of the due diligence process, they received a long list of financial information requests from the acquirer including sales and margin by customer and product.

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Navigating the New Year Slump: Mastering the Art of Cashflow for Hospitality Businesses

How will Alcohol Duty Reform affect the hospitality industry?

Webinars

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Navigating the staffing challenges in the hospitality sector for a smooth festive season

Webinars

Post Pandemic VAT Recovery Alert: The Overlooked Opportunity for Hard-hit Hospitality Businesses to Maximize Refunds

Focusing on Sustainability for UK Hospitality & Leisure Businesses

Professor Accuses Professional Accountant Body of Hoarding Fines Like Smaug Hoards Gold

What’s next for your Pub – and how can you position yourself to succeed?

Is your restaurant business hitting the two most critical key performance indicators?

Is your restaurant business hitting the two most critical key performance indicators?

COSTS IN THE H&L SECTOR, WHAT’S THE IMPACT OF THE VAT INCREASE?

When the going gets tough, businesses can’t afford to stand by – so they must act

B2B Payment Terms In Flux Amid Market Volatility

How will an inventory management system support business growth?

From the city to corporate event management

Autumn Statement – Although investors and companies might have wished for more, the markets react calmly

Aggregation of marginal gains – It’s all about the percentage improvements

The customer is king but are they delivering value?

Is your profit data misleading you? Part 1 – valuable insight

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