Hotel and Leisure
Running a hotel, pub or restaurant can be very enjoyable – but only if you are in control of the numbers. Setting up and maintaining strong financial controls puts you in control and keeps you in control. It means you can file accounts shortly after year-end which in turn enhances your credibility with potential funding providers.
For loan applications, Oaktree works closely with the potential lenders to provide information and answer questions quickly. It’s not just number crunching, it’s also about building strong relationships with the lenders so they gain confidence in the lending proposal. Many clients have either saved money on loan deals, or obtained finance where their own bank had turned them down, through lenders recommended by us.
Oaktree clients get reliable cash flow forecasts where these are needed, too. Many Lake District tourist businesses see the bank overdraft build in February, knowing in advance how much it might get to gives the business a chance to plan properly and put arrangements in place.
Every Oaktree client owning a property such as a hotel, restaurant or guest house gets a review of this to ensure all possible tax allowances have been claimed. Sometimes this review has led to backdated claims of up to £80,000. Larger claims are backed up by reports from C A Tax Solutions, the leading company in this sector in the UK.