Travel

Tax Planning and Compliance

Tax regulations in the travel industry can be complicated, especially when dealing with international clients, multiple currencies, and varying tax jurisdictions. Our team provides expert tax planning services to ensure your business remains compliant with UK tax laws while minimising tax liabilities. We offer advice on corporate tax, income tax, and VAT, helping you optimise your tax position and stay on top of filing deadlines. With our proactive approach, we help you navigate the complexities of tax compliance in the travel industry.

Cash Flow Management

Managing cash flow is critical in the travel industry, particularly due to seasonal fluctuations and high upfront costs associated with bookings and tours. We provide comprehensive cash flow management services to ensure your business has the liquidity needed to cover operating expenses, even during off-peak periods. Our team offers cash flow forecasting and budgeting, allowing you to plan effectively for both short-term and long-term financial needs. By maintaining healthy cash flow, we help you ensure the smooth operation of your travel business.

VAT Advice and Returns

VAT can be particularly challenging for travel businesses, especially when dealing with international transactions, package holidays, or cross-border services. Our VAT experts provide tailored advice to ensure that your VAT obligations are met efficiently and accurately. We help you understand the VAT rules that apply to your services, whether it’s the Tour Operators’ Margin Scheme (TOMS) or VAT for international sales. Our team prepares and submits VAT returns on your behalf, ensuring compliance with HMRC while maximising VAT efficiency.

Financial Reporting and Management Accounts

Clear and accurate financial reporting is essential for travel businesses, especially when dealing with large volumes of transactions. We provide detailed financial reports and management accounts that give you a clear picture of your business’s financial health. Our reports help you track profitability, monitor key performance indicators, and make informed decisions about the future of your business. Whether you’re looking for profit and loss statements, balance sheets, or cash flow reports, we deliver timely and accurate financial information to support your business goals.

Payroll Services for the Travel Industry

If you employ staff, managing payroll can be complex, especially when dealing with seasonal workers, part-time employees, or contractors. Our payroll services ensure that your employees are paid accurately and on time while complying with all employment regulations. We handle everything from salary payments and tax deductions to pension contributions, ensuring that your payroll processes run smoothly. Our team also provides support with payroll-related queries, helping you manage your workforce efficiently.

Travel-Specific Financial Advice

The travel industry faces specific financial challenges, such as fluctuating exchange rates, booking deposits, and handling refunds. Our team offers travel-specific financial advice, helping you navigate these unique challenges with confidence. We provide support with foreign exchange management, travel insurance accounting, and the financial aspects of booking and cancellation policies. By offering industry-specific advice, we help you optimise your business operations and stay financially healthy.