Accountancy advice for travel agents and tour operators
Our travel team are experienced in working with industry professionals including travel agents and tour operators. Our clients range from start ups through to substantial businesses and we know how to help them through each phase of their growth. We understand the business issues that entrepreneurs face and can help them to succeed and achieve their objectives. Our practical, value for money advice is in three main categories:
- Financial
- Regulatory
- Taxation
Financial
In a sector where margins are thin and invariably under pressure, cash is most definitely king so we can help clients with the design and implementation of management information systems that incorporate tools to monitor cashflow. During the early days of a business we can provide a management accounting service complemented by the analysis of key financial information.
We can help with fundraising for expansion, work with clients to assist with acquisitions and help them to achieve maximum value on an ultimate exit from the business.
Regulatory
The travel industry is highly regulated. We understand, and can advise on, how to meet the financial aspects of those regulations. We can help with the preparation and submission of returns to your regulator and can assist with resolving any issues that arise from time to time.
Our specialist consultants can provide reviews of your internal systems to highlight areas for improvement where, for example, the business may be exposed to potential fraud. Our analysis can also ensure that your systems are properly designed to capture and report information to your regulator.
Taxation
We start by gaining an in depth understanding of your personal and business objectives and then advise on the best structure for your business. As your business grows, we advise on efficient profit extraction, the best way to acquire assets, pension planning and VAT.
We advise on meeting the special VAT rules that apply to the travel industry, such as the Tour Operators Margin Scheme (TOMS) which have changed recently.
