• Leisure

    At EQ Leisure, we know that businesses within the leisure industry face some very specific challenges. Our dedicated Leisure team have the understanding and the experience needed to help businesses survive, adapt and flourish.

Leisure Specialists

At EQ Leisure, we know that businesses within the leisure industry face some very specific challenges. Our dedicated Leisure team have the understanding of the relevant issues, and the experience needed to assist clients such as:

  • Guest houses and B&Bs
  • Holiday parks
  • Hotels
  • Restaurants and bars
  • Holiday lettings
  • Leisure clubs and activities
  • All other businesses within the sector

We deliver a comprehensive range of services to our clients, including accountancy, audit and tax compliance, but our strength lies in our advisory capabilities. We strive to build strong relationships with our clients, as this enables us to fully appreciate their aims and objectives in order to provide the most relevant advice and support in each unique situation.

Virtual Finance Office

For many businesses in the Leisure industry staff are one of the most important assets and therefore payroll compliance is critical to their ongoing success. Our Virtual Finance Office (VFO) assists businesses of all sizes in adhering to the relevant HM Revenue & Customs legislation, ensuring return filing and payment dates are met, whilst also providing support on all payroll related matters, including auto enrolment, P11D expenses and benefits, and the living wage.

We understand that it can be a time consuming challenge to maintain adequate records, which provide useful management information, alongside running a business. Our VFO is there to take the hassle away from you and to allow you to focus on the day-to-day running of your business. Bookkeeping and VAT support is tailored to each individual situation, from full outsourcing to VAT return review only, and kept flexible, as we appreciate circumstances can change overnight.

To find out more about how our VFO can help your business, contact one our Leisure specialists who will be happy to discuss your requirements and find the right solution for you.

Your Performance. Energised.

Compliance work, for individuals and businesses, is a key service for us. However the Leisure industry and relevant legislation are constantly evolving so proactive tax planning is where we differentiate ourselves, and where we add the most value for our clients.  We work with business owners to ensure they meet their objectives and, by developing a comprehensive knowledge of their personal and commercial affairs, we are able to provide innovative solutions and advice in a range of areas including:

  • Business restructuring
  • Succession planning
  • Eligibility for Business Property Relief
  • Mitigation of inheritance tax
  • Planning for capital expenditure
  • VAT assistance and queries

More than accountants

At EQ Leisure we aim to be more than accountants, acting as business advisors to our clients to ensure the continued success of their business.  An outside perspective can be thought provoking and we can draw on our experience in the sector to deliver a non-executive director role to businesses, attending management or owner meetings as regularly as requested or simply being available at the end of the telephone.

Regular, accurate financial information is fundamental to being the best. We prepare and analyse management accounts, along with assisting in setting budgets, targets and key performance indicators (KPIs), allowing informed business decisions to be made.  We can also critically evaluate business performance, identifying potential areas for cost savings or suggesting steps to maximise profit.

Corporate Finance

We have helped a variety of clients implement extensive changes to their businesses.  If you are acquiring a business, expanding an existing business or planning for a disposal, we can provide support through every stage, whether it is a rapidly evolving enterprise or a once in a lifetime event. We’ll explain the options for structuring your business, assist in preparing business plans and projections to secure funding, and advise on the wide ranging tax implications of a sale or restructure, to maximise return and help you to achieve your aims and expectations.

Read more about our corporate finance services here.

If you work within the leisure sector and are considering getting some advice, give one of our EQ Leisure team a call to chat about how we can help you. Alternatively, fill in the contact form and someone will be in touch shortly.

Hotel Case Study

Green Park Limited

EQ’s key people are often asked to provide board level business advisory support to businesses. Since 2011, Dundee office partner, David Morrison, has supplied this service to the McMenemie family, owners of the Green Hotel in Pitlochry.

Over the period of his involvement, David has supported the family and the company in many different areas from succession planning, budget and price setting to staff incentives, brand identity and management controls. His advice also includes all taxation support for the company and its directors.

The hotel is hugely successful and has carved out a niche in the provision of high quality accommodation and catering to mainly elderly clientele. The hotel continues to go from strength to strength and has further plans to enhance the breadth and quality of its services.

Alistair McMenemie, Managing Director of Green Park Limited commented,

“We have dealt with David and EQ over many years and are hugely appreciative of the friendliness and quality of the team. We benefit from their detailed sector knowledge and fully trust in the service provided, no matter what the query is.”

To see how we can help you, contact one of our Leisure team today.

B&B Case Study

Mr & Mrs Anderson

Over the past 5 years, EQ have worked with Mr & Mrs Anderson who currently run two successful bed and breakfast establishments in the pretty Highland Perthshire town of Pitlochry. Both Martin and Andrea are dedicated to providing excellent service to their customers and their achievements have been widely acknowledged, winning several of the most recognised awards within the industry for Craigatin House, including “Regional Guesthouse of the Year in the 2017” at the Scottish Hotel Awards.

Since appointment, EQ have provided advice on several areas including business restructuring, bookkeeping, personal and corporate taxation matters and succession planning.

Martin Anderson, commented,

“We never stop improving and striving to be better every day, this has always been our goal. Working closely with EQ has been instrumental to our success. The sound business advice and guidance EQ have offered us over the years has allowed us to build and expand our business. Their accountancy service allows us to focus on what we do best in running our businesses, safe in the knowledge that the quality advice and accountancy service we receive from EQ keeps us in order and always up to date.”

Following the success of their first bed and breakfast, the couple have recently opened a second establishment, Derrybeg Bed and Breakfast. The property has undergone an extensive refurbishment and is now also being recognised as an industry winner, having been awarded a Tripadvisor Certificate of Excellence in 2016 and nominated for a tourism & hospitality award in the 2017 Scottish Rural Awards.

Caravan Park Case Study

Clayton Caravan Park

In early 2016 EQ were appointed as advisors to Clayton Caravan Park, a very successful holiday park close to St Andrews in Fife. Owned and operated by the Kennedy family since its inception in 1966, the family are committed to investment in the facilities and infrastructure, resulting in a 5 Star Holiday Park Award by Visit Scotland.

Since appointment EQ have undertaken a full scale review of the operational setup advising on all areas including the business structure, company and personal taxation matters and succession planning. EQ also have a close ongoing relationship with the family, meeting regularly to ensure their objectives continue to be met and to discuss their plans for the future, following the approval of planning permission to expand the park with the creation of 171 new static caravan pitches.

Andrew Kennedy remarked,

“We are delighted with the service we have received from EQ since we began working with them. The team are friendly and approachable and throughout a period of change we have felt confident in the advice provided, which has always been delivered in a clear and understandable manner despite the complexities involved.”

  • Entrepreneur and accountant may not appear at the top of your list as possessing a natural synergy, but I can testify to the catalytic synergy when EQ, became involved in our businesses. I have constantly been delighted by the proactive, entrepreneurial passion and lateral thought which is applied to every situation. They are not just our accountants - they are an integral part of our management team, being fully involved in our business and providing rather unique, proactive advice, leadership and a personal service, which is sadly missing from larger city accountancy practices, at a country rate.

    Ron Kitchin
    The Kitchin, Castle Terrace Restaurant & The Scran & Scallie

  • We are delighted with the service we have received from EQ since we began working with them. The team are friendly and approachable and throughout a period of change we have felt confident in the advice provided, which has always been delivered in a clear and understandable manner despite the complexities involved.

    Andrew Kennedy
    Clayton Caravan Park

  • We never stop improving and striving to be better every day, this has always been our goal. Working closely with EQ has been instrumental to our success. The sound business advice and guidance EQ have offered us over the years has allowed us to build and expand our business. Their accountancy service allows us to focus on what we do best in running our businesses, safe in the knowledge that the quality advice and accountancy service we receive from EQ keeps us in order and always up to date.

    Martin Anderson
    Derrybeg Bed and Breakfast

  • We have dealt with EQ over many years and are hugely appreciative of the friendliness and quality of the team. We benefit from their detailed sector knowledge and fully trust in the service provided, no matter what the query is.

    Alistair McMenemie
    Managing Director, Green Park Limited

  • Everyone at the firm has been sincere, willing and professional and I look forward to making the most of their expertise.

    Drew Shedden
    Managing Director, Cluny Clays Ltd

Leisure News

View all latest news
Aug 29 2017

Inheritance tax relief of Furnished Holiday Lets receives another blow

A recent tax case before the First Tier Tribunal has poured further doubt on the availability of inheritance tax relief on properties let as furnished holiday accommodation (FHLs). Business Property Relief (BPR) can provide 100% relief against inheritance tax where a business activity is deemed to be “wholly or mainly trading”. If a business activity is predominantly investment rather than tra... more

Aug 15 2017

Are you missing tax allowable business costs?

Common deductible expenses within the Leisure industry include; advertising costs, telephone bills, heating and lighting costs, council tax, certain professional fees, general repairs, gardening costs, cleaning items, insurance, relevant membership subscriptions, crockery, cutlery, and bed linen to name a few. Don’t forget you may claim travel expenses of up to 45p per mile for travelling to and... more