Sector
Tax and accounting for restaurants and hospitality.
High transaction volume, thin margins and heavy staff costs, reconciled daily rather than rebuilt at year end.
Common tax challenges
Hospitality combines very high transaction counts with very thin margins, which means small recording errors compound quickly and are expensive to unwind at year end.
- POS to bank reconciliation. Card settlements arrive net of processor fees and in batches that do not match daily sales. Reconciling the POS to the bank daily is the single highest-value control in the sector.
- Delivery aggregators. Commission is substantial and is deducted before payout. Recording only the net receipt understates both revenue and cost, and misstates the VAT position.
- Service charges and municipality fees. Amounts collected on behalf of others are not your revenue and should not sit in your profit and loss as though they were.
- Staff costs and WPS. Payroll is usually the largest cost line, and accrued leave and end-of-service provisions are routinely omitted, understating the real cost of the operation.
- Wastage and stock. Food cost cannot be understood without a stock count. Purchases alone are not cost of sales.
What we provide
- Daily POS to bank reconciliation
- Aggregator statement reconciliation, recorded gross
- Stock counts, wastage tracking and true food cost reporting
- Payroll processing, WPS files and end-of-service provisioning
- Outlet-level profit and loss where you run more than one site
- VAT returns and Corporate Tax filing
Typical documents
- Daily POS reports
- Card processor and aggregator settlement statements
- Supplier invoices for food, beverage and consumables
- Stock count sheets
- Payroll records and employment contracts
- Lease and licence documentation
Our process
We set up the daily reconciliation first, because without it nothing downstream is reliable. Then outlet-level reporting, so you can see which site earns and which does not. See payroll and WPS and management reporting.
Getting started
Tell us your licence type and what is outstanding, and we will confirm which returns apply and what the deadlines are before any work begins. Send us your details, or check your position with the tax status tool.