by Dawn Lake | Nov 19, 2024 | Accountants, Hospitality Sector, Taxation, Tips
New Law on Tips: Are You Ready? The Employment (Allocation of Tips) Act 2023, effective as of October 1, 2024, has introduced essential rules on how tips should be managed in the hospitality industry. The Act covers all businesses that accept tips and service charges...
by Dawn Lake | Feb 17, 2023 | Budgets, Forecasting, Hospitality Sector, Stocktaking
Businesses in the hospitality sector often question the value of regular stocktaking and whether it benefits the business. In this blog post our Stock Auditor and National BDM, Dawn Lake, looks at why it’s only worth doing if it’s being done properly. The benefits of...
by Dawn Lake | Sep 13, 2022 | Budgets, Business Consultancy, Stocktaking
For all businesses, and in particular the hospitality sector, ever increasing costs are top of mind. The need to laser focus on how to save money and reduce costs is paramount. As a stocktaker, all too often when visiting sites the same products are accounted for on...
by Dawn Lake | Jul 13, 2022 | Budgets, Business Consultancy, Stocktaking
The last two years have been exceptionally challenging for businesses across the UK with the current economic climate creating a squeeze on everyone’s purse strings, and the hospitality sector is not exempt. Many businesses have been faced with supply chain...
by Dawn Lake | Jan 7, 2020 | Stocktaking, Valuations
In the licensed trade and hospitality sector the success of a business is completely reliant on how effectively stock is turned into cash. Questions around how to improve yields and profits need to be considered. How can a business effectively certify its stock? How...
