Sectors
Hospitality, Leisure, and Tourism
Specialist financial guidance to help UK hospitality and tourism businesses protect margins, navigate rising costs, and ensure long-term profitability.
Strategic financial support for hospitality and tourism businesses
Running a hospitality or tourism business isn't a 9-to-5 job; it’s a lifestyle. Whether you are managing a boutique hotel in the Lake District, a bustling city-centre restaurant, or a family-run caravan park on the coast, we know that your mind is often on the "front of house" long after the last guest has left. You are juggling rising food costs, shifting labour laws, and the constant pressure to innovate while keeping your margins intact.
At Armstrong Watson, we act as your "back of house" partner. With deep roots in the UK’s most iconic tourism regions, we provide more than just annual accounts. We offer the technical authority and practical, friendly advice you need to stay profitable and resilient. We understand the grit it takes to succeed in this sector, and we are here to ensure your financial foundation is as welcoming as your service.
Common questions & practical concerns
Clear, expert answers to the common financial challenges and operational questions faced by ambitious hospitality and tourism businesses across the UK.
From April 2026, the temporary 40% relief for retail, hospitality, and leisure (RHL) properties ends, but a new, permanent lower multiplier is being introduced for properties with a rateable value under £500,000. We help you model these changes into your cash flow and ensure you are accessing all available transitional relief to smooth the impact on your bottom line.
Under the latest laws, 100% of tips and service charges must be distributed to staff without deductions (except for statutory tax). We help you implement a formal, HMRC-compliant Tronc scheme, which not only ensures you meet these strict transparency rules but can also provide significant National Insurance savings for both the business and your team.
The most important step is acting early. We provide "straight-talking" advice on restructuring and insolvency, often negotiating "Time to Pay" arrangements with HMRC on your behalf. Whether it’s a formal Company Voluntary Arrangement (CVA) or a simple debt restructure, our goal is to find a path that protects your operation and your reputation.
With the rise of AI-powered phishing and ransomware targeting the leisure sector, your booking and payment systems are high-value targets. We provide Cyber Security Solutions that go beyond basic firewalls, helping you secure guest data, achieve PCI DSS compliance, and train your staff to spot digital "social engineering" before it costs you a fortune.
Yes, and often for much more than you think. Many owners only claim for the obvious equipment, but we specialise in Capital Allowances for "integral features" like heating, lighting, and plumbing. These "hidden" claims can significantly reduce your tax bill, effectively helping to fund the next stage of your business growth.
Our Financial Planning team works with you to extract profit tax-efficiently into personal pensions and diversified investments. We ensure that you aren't "business rich but cash poor," creating a financial safety net that exists independently of the business, which is vital for long-term stability and eventual retirement.
Valuation is no longer just a multiple of turnover. We look at your EBITDA, the strength of your "tech stack," your staff retention rates, and your digital reputation. Whether you are looking at a family succession or a third-party sale, we provide a realistic, evidence-based valuation that reflects the true market worth of your hard work.
For many seasonal businesses, such as caravan parks or coastal hotels, overheads can apply significant pressure to margins and cashflow during the off season. Our outsourced model gives you access to a full finance team—from bookkeeping to FD-level strategy—only when you need it. You get real-time data to manage your margins without the fixed cost of a full-time in-house department.
Get in touch
Get in touch to speak to one of our specialist advisers and explore how we can help you.
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What our clients say
We're committed to delivering the best client experience. Hear from those who have worked with us and discover how we've helped them achieve their goals.
Tony Bullock and his team have been our accountants since 2018, and during that time we have built a close working relationship. They have an excellent understanding of both our business and the leisure and tourism sector in general.
As a micro business, bookkeeping falls to our small management team. Tony helps to ensure that we adopt best practice, and that our tax position is optimised.
It is never too much trouble for Tony to work through our concerns with us, and he is always prepared to clearly explain things. We are very comfortable dealing with Tony and his team and look forward to dealing further with them in the future.
Alastair Hunter
Managing Director, Brown Rigg Lodges & Guest Rooms
Alex Nicholson and Emma Forrester were fantastic throughout the process [helping us submit a retrospective claim to HMRC for overpaid VAT on removable contents sold as parts of caravans] and without them we would not be in the position we now find ourselves. We received a significant six-figure refund and now enjoy increased margins on each sale due to their work.
“As such we would urge other caravan and holiday park owners to speak to Armstrong Watson to find out if they too could benefit from their expertise in this area.”
Scott Mounsey
Finance Director of Cotterhill Limited
“Since taking over from a Big 4 firm, Armstrong Watson have been a breath of fresh air. We have been with a Big 4 firm for 34 years and we have had a lot better and closer working relationship with Andrew Kennon and Armstrong Watson. They impressed us from the outset with their sector knowledge and this has shown through in all the advice we’ve received. Helping make our ideas and goals reality. I would have no hesitation in recommending Armstrong Watson as anyone’s auditors and advisers.”
George Harrison
Harrison Leisure
Having recently just purchased a Guest House in the Lake District, I felt the need to put into words the help Richard Andrew of Armstrong Watson gave us to choose, decide and complete the purchase. From the very start of viewing properties, Richard was on hand giving us professional and impartial advice until completion, including matters of accounting and contracts. This made the process so much more un-daunting having someone you could trust every step of the way. Since purchasing, we have already had an on-site visit from Richard who is now guiding us the right direction again by implementing the xero accounting package to the business and again simplifying and lessening the pressures of owning and running your own business. We would have no hesitation in recommending Armstrong Watson and especially Richard in the future. Once again thankyou.
Mark & Marie Pape
Seven Oaks Guest House
If Bruce and I come up with an idea, Armstrong Watson is like a sounding board. Grant will sit down and he’ll say ‘what about this?’ I used to see accountants as a bit up-tight, a bit beige – they’re not like that. A lot of accountants you’re just a number, but Armstrong Watson understand the people behind those figures and the passion they have for what they’re doing.
Bruce and Luke
Carlisle
Armstrong Watson are lead sponsors for the IFDA providing invaluable advice to our members and the wider sector. Recently supporting the IFDA Forum series which delivered expert advice on prominent themes affecting the sector. They have been on hand to talk to all our members, no matter what stage of their journey, advising on accounting, planning and auditing. Their work with IFDA member Bundobust and the accounting software Xero has proven hugely helpful to our members, setting a benchmark for accounting with Independent food and drink establishments in the city.
Anne-Marie Gallagher
Leeds Beckett University
Having used Armstrong Watson as our accountants and tax advisers over the last 8 years for various businesses within the High Spirits Leisure Group, we can highly recommend them to any serious business operators.
From acquisitions, sales, changes of banking facilities, tax affairs and planning, not to mention personal tax affairs, we have found them to be of the highest professional standard and our main contact Richard Andrew is always available for help and advice in a friendly effective manner.
During the last 12 months, as part of our expansion plans, we took our internal accounts team away from onsite operations to a dedicated accounts office in Ulverston. This presented various opportunities but also some difficulties, but with the support of Armstrong Watson, we were able to implement new systems, provide staff training and assessment programmes along with new recruitment initiatives. The end result is a highly efficient team ready for our continued growth!
Armstrong Watson are currently advising us on projections and finance for some new & exciting ventures, all in all a great bunch of people who really do make a positive difference to our financial future.
Colin Monk
High Spirits Leisure Group Ltd
We use Armstrong Watson for all our VAT, Payroll and other accounting needs due to the excellent advice we recieve. Grant Smith is more than just an accountant, he gives sound practical business advice and and we value that.
Helen Mullinder
Owner at the Sandwich Club, Carlisle
I’ve been with Armstrong Watson for over 20 years and have worked with them on quite a range of things from accounts, corporation tax, self-assessment returns and general compliance.
What sets Armstrong Watson apart from other accountants is the personal relationship we have developed. They always go the extra mile and are always there when I need help and advice.
I trust Armstrong Watson. They always act in my best interest - and having that feeling of security is priceless.
Ben Peters
Managing Director, BHP Associates, Harrogate
Discussing matters of succession planning with family members is a challenging but necessary process if you wish to try and minimise inheritance tax. In recent years, with the help of Helen Thornley and the rest of the team at Armstrong Watson, we have been able to take proactive steps to manage our family’s affairs to the point where we are now confident about the future.
Charles Lowther
Owner, Askham Hall
Our business has been supported by Armstrong Watson since opening over seven years ago. We know that we can pick up the phone and our queries will be dealt with in a professional but friendly manner. When it comes to our tax affairs they are always on hand to advise us proactively and deal with HM Revenue & Customs so that we don’t have to!
Lakeview Guest House
Running a guest house on the Isle of Islay in Scotland with turnover rising from £60k to £110k we were looking for an accounting system that would help to make our working life a little bit easier and that is exactly what Xero has done for us.
Grant Smith and the staff at Armstrong Watson were so patient explaining how the system worked and how it could benefit our business. Within a few days it felt that we had always used it. It is actually a joy completing the VAT return as with everything in the one place to do this and staff at Armstrong Watson always happy to help with any queries that arise.
Andrew and Alison Jackson
Owners, The Bowmore House
'I was very 'raw' in a sense, not having started up my own business before. Armstrong Watson told me everything I needed to know and held my hand throughout the process. By introducing me to other clients who had been through the same process, it gave me confidence in my abilities and that little push I needed to make the business succeed. I trust the team implicitly and could not have done it without them. I never thought I could become good friends with my accountant but it has happened and I’m pleased that I’m with such a forward thinking firm.'
Vicky Houseman
Doyly’s tearooms
Case studies
Client story
Pre-liquidation sale of assets by directors
Client story
Holiday park owner receives almost £500,000 from HMRC thanks to unique VAT methodology
Client story
English Marquee Company creates foundations for its future during pandemic
The English Marquee Company has quickly established itself as a classically stylish brand and fixture in the UK Event scene over the past four year
Client story
