Being accountants for travel businesses in the UK puts us in the perfect position to understand the topical issues facing owner-managers of small and medium-sized travel agencies and tour operators.
At Glen C Rodger, we can help you operate your travel or tourism business and offer strategic development options to help you effectively plan for the future, or for the next industry disruption.
As tourism accounting experts, we can offer support on all of your firm’s taxation, audit and regulatory obligations, hospitality financial planning, expansion issues and much more.
We’ll help you plan for retirement, give you advice and expertise that you can rely on, and assist with any questions or concerns that you may have.
Our range of financial services are delivered with the same care and attention, no matter where you come from, or what you do. It’s about relationships – not numbers on a page.
At Glen C Rodger we put people and the spirit of adventure at the heart of everything we do. We can open your eyes to a world of possibilities, looking at your business in a new and exciting light.
Get Started
We bring a fresh perspective that always delivers.
We’ll help streamline your affairs.
You won’t pay a penny more than you should.
We offer a range of business planning services.
Our travel accountants help to manage the financial complexities of the travel industry. Owner-managers in this sector face unique challenges related to cash flow, accounting, and tax compliance. Our expertise helps tourism businesses navigate regulatory requirements, maintain accurate financial records, and ensure VAT compliance, supporting their overall financial health.
We boast specialised knowledge essential for navigating the unique financial landscape of travel agencies and travel companies. Our travel accountants understand the numerous revenue streams, such as travel packages, package deals, and group tours, along with their associated costs. This expertise enables us to offer tailored advice on pricing strategies, managing finances, cost management, and revenue recognition to optimise business finances.
Our role extends to preventing financial pitfalls by maintaining rigorous bookkeeping practices, revenue tracking, and cash flow management. Ensuring tax compliance and managing VAT regulations effectively in line with evolving UK tax laws are vital tasks we handle. We also stay updated on the Tour Operators’ Margin Scheme (TOMS) and its implications for UK businesses involved in selling travel services and travel supplies, ensuring proper VAT handling for wholesale supplies resold to customers. By acting proactively, we safeguard our clients against risks associated with non-compliance, thus ensuring smooth operations and tax efficiency.
Audit and assurance services are integral to maintaining financial transparency and trust. We ensure that our clients’ financial statements accurately reflect their fiscal health, not only for internal scrutiny but also for investors and regulatory bodies. Our audit processes are thorough, identifying discrepancies and potential improvements in operational efficiency.
Compliance is crucial in the travel industry, with regulations frequently updated. Our role also involves keeping abreast of these changes, ensuring businesses adhere to all relevant tax rules and regulatory requirements. By doing so, we mitigate the financial and reputational risks associated with non-compliance, providing peace of mind to our clients as they focus on creating memorable travel experiences and managing seasonal fluctuations.
In today’s ever-evolving travel and tourism landscape, maintaining robust travel accounting practices is crucial for business success. We offer a broad spectrum of expert accounting services tailored to the unique needs of travel companies, travel agencies, and hospitality businesses.
Our expertise in cash flow management supports travel companies in maintaining a healthy financial status despite seasonal variations and cash flow challenges. We customise solutions to monitor inflows and outflows, ensuring liquidity even in off-peak seasons. By forecasting cash requirements and analysing financial data, we help businesses plan ahead effectively for expansion, unforeseen events, and natural disasters, minimising financial stress.
Navigating the complexities of VAT and taxation in the travel sector demands precision. The Tour Operators’ Margin Scheme (TOMS) plays a crucial role in VAT optimisation for travel businesses. We ensure compliance with local and international VAT regulations, helping businesses optimise their tax liabilities under UK tax laws. Our professionals stay abreast of the latest tax laws and tax obligations, providing guidance that enhances profitability without compromising on compliance.
Our team specialises in the Tour Operators’ Margin Scheme, a crucial mechanism for those in the travel industry. We offer insights into compliance and calculations, ensuring businesses benefit from reduced VAT on their margins. Recently, HMRC issued an update regarding the tour operator’s margin scheme, highlighting its implications for UK businesses involved in selling travel supplies. The changes to the guidance affect how these businesses handle VAT for wholesale supplies that are resold to customers. This service alleviates administrative burdens, allowing travel operators to focus on business growth.
Regulatory compliance is paramount. We offer comprehensive support in adhering to ATOL, ABTA, and IATA regulations, ensuring your business meets industry standards. Our guidance extends to registration, reporting, and maintaining required licences, safeguarding your company’s reputation and legal standing.
Efficient payroll and bookkeeping are foundations of sound financial management. Our services streamline wage calculations, tax deductions, and record-keeping, embedding transparency and accuracy in financial operations. By outsourcing these tasks, travel companies can focus on delivering unparalleled travel experiences and managing supplier payments efficiently.
Harnessing cutting-edge accounting software and technology integration, we offer digital solutions that simplify financial processes. Our platforms integrate seamlessly with your existing booking platforms and systems, allowing real-time monitoring and analysis of financial data. This results in enhanced decision-making and increased operational efficiency, tailored for the dynamic travel industry.
Adapting to market shifts is key to survival and prosperity. Our business transformation support helps travel companies embrace change, from reengineering processes to integrating new technologies. We provide strategic advice that aligns operations with emerging industry trends, empowering businesses to thrive amidst change.
Careful budgeting is critical in the travel sector, where external factors can impact revenue. We offer data-driven budgeting strategies that account for market fluctuations, operational costs, and growth opportunities. This disciplined approach enables precise forecasting, steering companies towards their financial goals.
Our advisory services are tailored to the distinctive demands of travel and tourism. We offer insights into market dynamics, regulatory changes, and competitive strategies. Our consultancy goes beyond numbers, providing holistic guidance that influences all areas of your business.
In the pursuit of profit maximisation, we craft strategic financial plans. Our focus is on optimising resource allocation, managing costs, and identifying lucrative opportunities. By analysing industry trends and financial performance, we position travel companies to realise their full potential.
Mitigating risk is essential for continuity and growth. We offer risk management strategies that identify, assess, and mitigate potential threats, including natural disasters and unforeseen events. Partnering with insurance experts, we ensure your business is adequately covered with insurance coverage, safeguarding your assets and future.
Effective financial reporting and analysis are the bedrock of informed decision-making in the travel and tourism industry. Our team of expert accountants provides comprehensive services tailored to the unique needs of tour operators, travel agents, and other businesses in the sector. We meticulously prepare annual accounts and financial statements, ensuring they meet the highest standards of accuracy and compliance.
Our budgeting and forecasting services help businesses plan for the future with confidence, while our financial analysis and benchmarking identify areas for improvement and growth. We also specialise in uncovering tax relief opportunities and optimising tax strategies to enhance profitability.
By reviewing financial performance and offering actionable recommendations, we empower our clients to make strategic decisions that drive success. By staying up-to-date with the latest accounting standards and regulations affecting the tourism industry, we ensure that our clients receive reliable and precise financial information.