Innovate North | Our Specialist Licensed Trade markets
Licensed trade accountants in a number of specialist industry’s, Innovate North’s experienced professional accountants deal with a variety of distinctive licensed trades.
Licensed trade accountants, licensing, licensed, pub, inns, Northern England, North East, Specialist Accountants, Book-Keeping, industry, pub accounting, accounting, VAT Accounting, Management Accounts, Annual Accounts, Personal Taxation, Payroll/PAYE, Business Plans, Projected Accounts, Budget Preparation, Cash Flow Forecasting, Self Assessment, Lancashire, Derbyshire, Nottinghamshire, North Yorkshire, West Yorkshire, business, businesses, tax, taxation, taxed, taxes
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Markets

  • Public Houses

  • Restaurants & Takeaways

  • Night Clubs & Social Clubs

  • Golf, Tennis & other Sports Clubs

  • Holiday Houses & Apartments

 

Public Houses

We can provide a full accountancy and taxation service to individual publicans and also multiple public house operations for the pub and licensed trade industry.

Our infrastructure allows us to offer outsourcing of business critical services such as company accounts, payroll processing, preparation of VAT returns and software systems consultancy alongside introductions to banks, solicitors and leasing companies.

Any business requires hard work, dedication and commitment so why not let us take the headache out of the paperwork and support you whilst you concentrate your efforts on the operational aspects of your business.

 

Restaurants & Takeaways

Are you a restaurateur looking for a proactive accounting service that will meet the specific needs of your industry?

With many years experience working with several restaurants we are ideally suited to handle all your accounting needs.

In the main, your accounting requirements will be the same as any other business, and for these you should refer to our “FAQs” page, but there are some important differences.

VAT
Although the food a restaurant buys in will for the most part be zero rated, with some exceptions, all food sold for consumption on the premises will be standard rated and all hot food sold for consumption off the premises will also be standard rated. However there are instances where certain sales could be zero rated and the precise nature of the trade carried out by the restaurant has to be scrutinised. We can advise you of the correct procedures in your business.

Takings Control
You, as the owner of the business, may be in the kitchen cooking the food or may be at front of house welcoming your customers. Wherever you are you will rely on your staff to wait tables, serve behind the bar and take payments honestly and accurately. Mistakes sometimes happen in the best run restaurants and so it is important that you have in place a system that will enable you to reconcile on a daily basis the transactions recorded on the till system with the actual money received from your customers. A system that will not only discover errors quickly, but will also tell you the breakdown between food sales and beverage sales. We can tailor such a system for you that you can keep day by day yourself.

Tips & Gratuities
The rules relating to the taxation of tips and gratuities are complex. How the tips are received into the restaurant and allocated to staff is of the utmost importance in deciding how the PAYE and National Insurance Contributions are administered. With effect from 1st October 2009 it is no longer possible for employers to include tips and gratuities as part of an employee’s national minimum wage. So, where in the past an employer could pay lower than the national minimum basic wage and make the pay up to that level by way of tips, he can no longer do so. Her Majesty’s Revenue and Customs (HMRC) has a PAYE scheme specifically for dealing with the PAYE and distribution of tips and gratuities called the Tronc Scheme. We have experience in setting up and administering Tronc Schemes which are separate from the businesses main payroll.

 

Night Clubs & Social Clubs

Are you a bar owner or pub landlord looking for a proactive accounting service that will meet the specific needs of the pub and licensed trade industry?

With many years experience working with several bars and restaurants we are ideally suited to handle all your accounting needs.

In the main, your accounting requirements will be the same as any other business, and for these you should refer to our “FAQs” page, but there are some important differences.

Takings Control
You, as the owner of the business, may be in the kitchen cooking food, serving behind the bar or may be at front of house welcoming your customers. Wherever you are you will rely on your staff to wait tables and collect glasses, serve behind the bar and take payments honestly and accurately. Mistakes sometimes happen in the best run bars and pubs and so it is important that you have in place a system that will enable you to reconcile on a daily basis the transactions recorded on the till system with the actual money received from your customers. A system that will not only discover errors quickly, but will also tell you the breakdown between beverage sales and food sales. We can tailor such a system for you that you can keep day by day yourself.

Tips & Gratuities
The rules relating to the taxation of tips and gratuities are complex. How the tips are received in the bar and allocated to staff is of the utmost importance in deciding how the PAYE and National Insurance Contributions are administered. The level of tips will obviously relate to how much of your particular business relates to the provision of hot food. With effect from 1st October 2009 it is no longer possible for employers to include tips and gratuities as part of an employee’s national minimum wage. So, where in the past an employer could pay lower than the national minimum basic wage and make the pay up to that level by way of tips, he can no longer do so. Her Majesty’s Revenue and Customs (HMRC) has a PAYE scheme specifically for dealing with the PAYE and distribution of tips and gratuities called the Tronc Scheme. We have experience in setting up and administering Tronc Schemes which are separate from the businesses main payroll.

 

Nightclubs

Are you a night club owner looking for a proactive accounting service that will meet the specific needs of your pub and licensed trade industry?

With many years experience working with several London night clubs we are ideally suited to handle all your accounting needs.

In the main, your accounting requirements will be the same as any other business, and for these you should refer to our “FAQs” page, but there are some important differences.

Takings Control
All night clubs receive income from more than one source. The first area of income is from the door and payments will often be made in cash as well as by credit and debit card. It is essential to have a good system in place to record not only the amount taken but the number gaining entry to the club because of the restrictions imposed on numbers by the licence. This must be represented by a sound accounting system to reconcile the tills with the actual receipts.

The second area of income is of course from bar sales. Night club bars are especially busy and staff are constantly under pressure to serve quickly. Mistakes will happen in the best run bars so it is important that you have in place a system that will enable you to reconcile on a daily basis the transactions recorded on the till system with the actual money received from your customers.

A system that will not only discover errors quickly, but will also tell you where the majority of errors are arising. Finally income may be generated from the Cloakroom and this will be entirely in cash. Although not at a level of the other income of the club it is still essential to ensure that the tickets given out correspond with the money taken. We can tailor these systems for you that you can keep day by day yourself.

Tips & Gratuities
The rules relating to the taxation of tips and gratuities are complex. How the tips are received in the bar and allocated to staff is of the utmost importance in deciding how the PAYE and National Insurance Contributions are administered. With effect from 1st October 2009 it is no longer possible for employers to include tips and gratuities as part of an employee’s national minimum wage. So, where in the past an employer could pay lower than the national minimum basic wage and make the pay up to that level by way of tips, he can no longer do so. Her Majesty’s Revenue and Customs (HMRC) has a PAYE scheme specifically for dealing with the PAYE and distribution of tips and gratuities called the Tronc Scheme. We have experience in setting up and administering Tronc Schemes which are separate from the businesses main payroll.

 

Golf, Tennis & other Sports Clubs

Getting the Right Advice
The world of sport is changing rapidly, with digital technology and global communications having a major impact for the sector. In addition, the increasing awareness of image rights within sport is creating new challenges for sports professionals and commercial organisations alike. Anticipating and accommodating these changes, however, need not be undertaken alone. Specialist knowledge and getting the right practical advice can help provide the key to success.

What We Can Offer Sports Professionals
We offer ‘one stop’ complete tax and accountancy solutions for all sports professionals. This includes:

  • Tax minimising strategies
  • Cross border planning
  • Specialist advice on the contractual exploitation of image rights in sport
  • Provision for all individual and corporate accounting needs
  • Business and networking assistance
  • General practice services

What We Can Offer Sports Businesses
Over the years we have developed a wide range of Accounting and Consultancy services, tailored to specific requirements in the sports arena. These cover:

  • Structuring especially for image rights
  • Tax planning
  • Tax compliance
  • Accounts preparation and audit
  • Book-keeping systems
  • Budgeting and cash-flow forecasting
  • Corporation tax
  • Expert Witness (litigation)
  • VAT advice
  • Specialist international advice – coverage in over 56 countries
  • Contract advice

Holiday Houses & Apartments

Any individual who receives income from letting a property has to declare this to the HM Revenue & Customs, even if they do not make a profit.

Innovate North have launched a fixed fee landlord accounting service designed for residential landlords with one property. Landlords with two properties can take advantage of our comprehensive accountancy service. This includes the preparation of rental accounts and the related Self Assessment Tax Return. For landlords with three or more properties we will provide you with a fixed fee quote.