The UK licensed trade is going through tough times. In challenging trading conditions, expert accountancy, tax and business strategy advice is more important than ever in running your licensed business efficiently and cost-effectively and sharpening your competitive edge.
At Milsted Langdon we work with a number of pub, restaurant and other licensed trade businesses in the South West.
You may find that outsourcing certain services to us – such as bookkeeping and payroll – provides a cost-effective alternative to dealing with business record-keeping and administration issues in-house, as well as freeing up time and resources that you can use more effectively elsewhere in your pub, hotel or restaurant.
We can also advise on and help you to implement internet-based cloud accounting, which provides a fast, easy option for dealing with your financial administration that minimises your workload. It will also give you quick access to the data you need while keeping your accountancy costs to a minimum.
Our specialist Business Innovation team can deliver bespoke solutions to improve the quality of your management information, to extract, analyse and interpret the data in our accounting systems to support cash flow management, budgeting and informed decision-making. Our reports can also provide an early warning system for any trends that can help you run your business more effectively or issues that need to be addressed.
We can also provide stocktaking services to assist with wet and dry pricing, profit improvement and reducing wastage along with periodical or year end valuations, change of licensee valuations or valuations for probate and insurance purposes.
Our tax specialists can advise on all aspects of business and personal tax compliance and planning, from dealing with tax returns and VAT to the most tax-efficient business structures and the tax implications of business sales or purchases.
If you need to raise finance to invest in your business, buy another business in the licensed trade or wish to sell, we can provide comprehensive corporate finance advice, including assistance with sourcing finance and guiding you through the process.
The current tax regime is favourable towards company sales, which means that this is now a good time for business owners to consider carefully whether – and when – they want to realise the value of their business enterprise.
We can advise on the issues involved in exiting your business, including financial planning for retirement, through our sister company Milsted Langdon Financial Services, which also offers wide-ranging services including life and critical illness insurance, investments and inheritance tax planning, to help you protect and build your wealth.
For more information on our services to the licensed trade, please contact us.