Highlights and challenges
The business operates in the luxury travel sector which has seen some challenges as Brexit and COVID-19 continue to disrupt the market.
The director of Kingsland Linassi needed professional financial advice on remuneration strategies in order to mitigate the business’s tax liabilities. They also needed to understand the latest digital solutions for accounting processes in order to meet their current and future needs.
The business’s accounts are managed internally. However, it was recognised that there are cloud-based technological solutions which could help make these operations more efficient and free up time to concentrate on other tasks.
Whilst current trading conditions are challenging, they are confident that the sector will recover, and need to ensure the business is operating both efficiently and flexibly in order to deal with future demands.
How we were able to help
- Advising the directors of Kingsland Linassi on putting remuneration strategies in place so they could mitigate their tax liabilities, where possible.
- Liaising with their financial manager to assist with their transition from Sage Line 50 to Xero.
- Continuing to support their finance manager with training on Xero to ensure she is proficient and confident with the system and understands what it can do to improve their accounting procedures.
- Providing ongoing advice on grants, loans and sources of support to ensure the business is in the best possible position to meet future demands once the market recovers.