The size and shape of the leisure and hospitality market will look very different following the Coronavirus pandemic. Social distancing and the wider fallout will require businesses to take a fresh look at their operating models including relationships with landlords, labour productivity and increased automation. How leisure and hospitality leaders plan for the recovery will be critical to the long-term success of their businesses.
At RSM, we have a cross-service team of experts working with operators across the sector, using our insight and experience to help navigate what will be an ever-evolving landscape.
How we assist our clients
We’ve been busy advising clients on the impact of Covid-19 including:
- accessing funding and restructuring advice;
- refining cash flow forecast models;
- workforce planning including legal, HR and tax advice;
- accounting and tax advice;
- technology implementation; and
- risk advisory.
As businesses look beyond survival to the opportunities for growth, our services to support them include:
Issues we can assist with include CVA implementation, developing an effective turnaround strategy, simplifying corporate structure, optimising the outcome of formal insolvency, securing an appropriate funding solution and more.
Financial Due Diligence
The expected consolidation of businesses and brands in the sector will see us busy supporting shareholders, management teams and private equity investors with financial due diligence and tax related advice.
Navigating Tax Pitfalls
We support leisure and hospitality businesses with payroll tax compliance, indirect tax and employment tax reviews, particularly TRONC compliance and requirements concerning national minimum wage.
We can assist with gender pay gap reporting, national minimum wage regulation, holiday pay component categories, employment and worker contracts and staff handbooks, equal pay advisory and other discrimination issues, workforce exits, workforce rights management and workforce changes under TUPE as well as employee and worker claims defence.
Do you need help to achieve your objectives?
Get in touch with Paul Newman our head of leisure and hospitality to discuss how we can assist you in achieving your strategic plans.