Accounting in the Travel Industry
Supporting you on your way to success.
At Chapman Robinson and Moore we support many clients within the travel industry. Whether you need support with specific aspects of compliance for the industry or general accountancy support, with our specialist knowledge and expertise, we are confident we are the right fit for your business.
Here are just a few of the services we are able to offer:
- ATOL Reporting Accountants (ARA) Scheme
- The Tour Operators Margin Scheme (TOMS)
- International VAT compliance
- Forecasting for the future of your business
- Monitoring cashflow particularly during off peak times
- Compliance including accounts and tax returns
Beccy is CRMs travel industry specialist. Beccy has worked for CRM for many years and has gained knowledge and experience of working with businesses in the travel and tourism sector. She has an understanding for the problems businesses face and works closely with owner managers. Please contact the office on 01865 379272 or email Rebecca@crmoxford.co.uk for advice on how CRM can help you.
Here are two areas that we regularly discuss with our clients in this sector:
The UK tourism industry maybe losing out on tax relief in the form of capital allowances. Capital allowances are a tax relief that can be claimed against certain costs involved in developing and purchasing commercial property. This can be in terms of electrics, drainage and lighting.
Here is a list of some of the integral features that you may be able to claim capital allowances on:
- Lifts and escalators
- Water heating systems
- Air conditioning systems
- Electrical systems- including lighting
Any money that is saved through claiming the capital allowances can be used to help your business develop and grow. Unclaimed capital allowances must be claimed prior to the sale of the commercial property or they will be lost
Annual Investment Allowance (AIA)
Currently the annual investment allowance is £200,000 from 1st January 2016. Any large purchases or renovations should be done in timing with the allowance.
For advice on claiming capital allowances and making the most of the AIA available, please contact the office. Our specialist knowledge and awareness helps provide tailored advice to our clients.
Talk to the team
How will you decide if we are right for you?
Could we help make your numbers work?
We invite you to meet with us and discuss how we can meet your personal requirements.
Watch our YouTube channel, Read our blogs or factsheets and download our 8 step workbook to learn how you can implement the 8 step principles.