Hospitality runs on tight margins, long hours and constant change. Whether you run a single restaurant or a growing group of venues, your accounts often get pushed to the bottom of the list. I Sumar & Co are accountants working with restaurants, cafés, bars and hotels across the UK, and we understand the sector's specific challenges - giving you the financial clarity to run a genuinely profitable business.
Common Problems We Solve
We regularly help hospitality clients who:
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are unsure how VAT applies to food, alcohol and takeaways
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need to set up or manage a tronc scheme for tips and service charges
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lack clear visibility of weekly or monthly profitability
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keep missing deadlines for payroll, VAT and corporation tax
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want to know whether the business is truly profitable after every cost
What We Do for Hospitality Businesses
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Monthly management accounts so you always know your numbers
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Tronc scheme setup and payroll management
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VAT returns with correct treatment of food, drink and service charges
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Cloud bookkeeping linked to your EPOS and accounting software
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Payroll for full-time, part-time and zero-hours staff
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Corporation tax and Self Assessment for owners
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Business start-up support for new venue owners
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Cash flow forecasting and profitability analysis
Hospitality Accounting - Frequently Asked Questions
VAT in hospitality is genuinely complex. Hot food eaten in or taken away is generally standard-rated, some cold takeaway food can be zero-rated, and alcohol is always standard-rated. We make sure every type of sale is treated correctly on your VAT returns. Current VAT rates are published at gov.uk.
A tronc is a formal arrangement for sharing tips and service charges among staff. Set up correctly, it can be more tax-efficient for your team and helps you meet your employer obligations. We set these up and run them for hospitality clients.
Yes. Management accounts are one of the most valuable things we provide in hospitality. A monthly P&L shows exactly which parts of your business make money, so you can act quickly.
