SME Accounting Calendar
With everything from bookkeeping, payroll, VAT, receipts, cash flow analysis, monthly reports, tax returns and year-end accounts, it’s no wonder there’s rarely enough timeleft to look after other pressing business matters. We’ve put together a checklist and a handy calendar, to help you keep track of all the important accounting dates in the year ahead.
Business Events Industry
Business events are a major part of the hospitality and tourism sector and the BHA welcomed the publication of the Business Visits and Events Strategy, published by DCMS in March 2015. It is essential that the right partnership is constructed between the government and the industry.
A typical commercial property, complying with HMRC regulations can create a tax relief on the acquisition costs of up to 35% depending on the property type. Are you aware of your Tax Relief entitlements?
Cut Tourism VAT
The UK’s current tourism VAT rate is almost twice the EU average. The BHA calls on the Treasury to reduce tourism VAT from 20% to 5% in order to boost the UK’s earning from tourism, create new jobs, and generate additional tax revenues.
Discretionary Tips and Service Charges
Following the 'Ten Minute Rule Motion' about service charges, gratuities and cover charges raised by MP Andrew Percy in the House of Commons (9 Sept 2014), the British Hospitality Association would like to highlight the existing Code of Practice on Discretionary Tips & Service Changes.
HMRC - Help understanding VAT
Do you or your business need help understanding VAT?
Following feedback from the Tourism Industry HMRC has developed two new e-learning products to provide information and advice.
Regional and Tourism Structures
In the last Parliament, the Regional Development Agencies – and the Regional Tourist Boards – were abolished and were, in effect, replaced by Local Enterprise Partnerships (LEPs). However, few LEPs embraced tourism at the heart of their economic growth strategies. The BHA believes that the development of tourism in England will continue to be compromised unless and until there is a much greater level of clarity about the sub-national tourism structures.
Submission to the Low Pay Commission on the National Minimum Wage
The British Hospitality Association submitted evidence to the Low Pay Commission in October 2015.
Tourism Industry Council & Inter-Ministerial Group
The Tourism Industry Council, set up in 2014, works to coordinate policy cutting across both the Department for Culture, Media and Sport (DCMS) and the Department for Business, Innovation and Skills (BIS). An Increasing international competition and the decline in domestic tourism has highlighted the need for better coordination between a wider range of different government departments to construct the right agenda for the sector to thrive, accordingly the BHA strongly welcomed the establishment of an inter-ministerial group, to coordinate tourism policy across government.
Visas: Facilitating travel to and across the UK
The BHA understands the case to introduce biometric data in visa applications as a way to further secure UK borders and national security and welcomes the government’s decision to expand the mobile fingerprinting service in China from 9 cities to 50 cities. But, in order to make the tourist visa application process more attractive, government must move forward on other issues including price, the issuance of longer term multiple entry visas, and ensuring improvements in the speed and efficiency of visa processing.