MJB Avanti Serving Restaurants Across East Suffolk
4/08/2021 - MJB Avanti
Running a successful restaurant takes more than great food and first class service, in an industry where margins are constantly squeezed, and costs are high you need to have a keen eye on the figures and that’s where an expert accountant can set you apart from your competitors.
Ask yourself, why you opened your restaurant? You have a passion for food, a flair for service and a desire to create memories and magic for your customers.
What you didn’t see yourself doing …
- Juggling VAT returns.
- Managing complicated payroll including the compliance around staff tip troncs.
- Losing hours to laborious bookwork.
As an industry, hospitality is subject to specific tax rules that are complicated to navigate without an expert on your side.
Let’s explore VAT as an example
VAT for restaurants is variable from zero rated to standard rated, and this depends on factors such as whether the food purchased was eat in or take away, and whether the food was hot or cold.
Setting up your EPOS system to reflect this can be very time consuming and complicated often leading to errors that must be unpicked when the bookwork is completed.
At MJB Avanti, they understand the continued pressures that your industry faces including increased produce costs following Brexit and the current legislative pressures ensuring you are Covid compliant.
How can MJB Avanti help you?
At MJB Avanti, they work with you to provide financial requirement assessments to assist with securing finance and the preparation involved. This includes a 13 week rolling cashflow forecast, review of business plans and budgets alongside industry KPIs. This is in addition to the statutory submissions required by HMRC and Companies House.
“Jolly Good Pubs started in 2012 with The Red Lion in Manningtree, we chose to work with MJB Avanti due to their personal touch and family feel, if we are successful so are they. Over the years, the team has helped navigate our growth from 2 employees to 60 and growing. With growth comes the challenges of increased paperwork and payroll, MJB Avanti helped with scalable solutions for our business taking control of these essential but time-consuming tasks allowing us to concentrate on the running of the pubs. I would recommend their paperwork box swap combined with Xero online portal, with just a few clicks we can see our bills that are due, or how much we spend with a supplier.” Thomas West, JGP East Anglia Ltd.
MJB Avanti monitor, advise and assist with your financial obligations so you can pivot and achieve your goals.
Call MJB Avanti to find out how we can help you (08000) 388 799
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