Keeping Golf Clubs Finances and Accounts Within Bounds.

The specialist golf accountants team at Albert Goodman is led by Keith Miller. Keith, is a partner in Albert Goodman and an ex-treasurer of members owned, Enmore Park Golf Club. As a single figure golfer, playing for club teams and in local work based networking events, Keith has had the opportunity to play a large number of courses over the years, enabling him to expand his understanding of how others are operating their golf courses.

Keith’s vast experience, has given him insight into the similarities between membership-owned and proprietary golf clubs.  For both, the income vs. expenses equation, needs to be kept in check, so that membership fees need not excessively increase on an annual basis. Being the reporting accountant to other golf clubs (both proprietary and membership-owned), he also understands the requirement for golf clubs to have sufficient net income, to ensure that the quality of the golf course and clubhouse is maintained to the standards required by both members and visitors alike.

Keith-Miller-WEB-THUMB
Keith Miller

Golf specialist accountant

Golf Clubs

As specialist golf accountants, Albert Goodman work with both member-owned and proprietary golf clubs to to ensure stability and growth for the future of the business and operate within the following areas as required:

  • Accounts and audit reports
  • Corporation Tax computations
  • Bookkeeping/outsourcing
  • Payroll
  • VAT advice (including partial exemption where appropriate)
  • Budgetary and management information advice
  • Software advice
  • Project Funding
  • Workplace pensions

With an ageing demographic and declining membership number, there is a necessity to make golf more accessible to as many types of people as possible. The male dominated golf clubs of the past are having to come up with ideas to introduce and keep as many members as possible. Strategies from the English Golf Union for Ladies and Juniors have been useful in this respect. Together with ever increasing costs, clubs must ensure that not only their membership numbers remain consistent or grow, but also that the assets of the club are used as effectively as possible to bring in other income streams. Clubs are therefore making their properties more available for external room rental and functions. As specialist golf accountants, Albert Goodman understand the golf club market and can help the club management to ensure that they are keeping their finances within bounds.

Golf Professionals

As specialist golf accountants, Albert Goodman also act on behalf of a number of golf professionals, providing a full business and personal tax service which include:

  • Accounts
  • Bookkeeping/outsourcing
  • VAT advice
  • Budgetary and management information advice
  • Payroll
  • Workplace pensions
  • Software advice
  • Preparation of projections and funding for existing or new income streams
  • Income and Corporation Tax compliance
  • Discussing Tax minimising strategies

As a golfer, Keith understands that it takes focus, discipline and dedication to keep on top of your golf game. It is also necessary to ensure that an equal effort is given in ensuring that you maximise your earnings and manage your financial stability. Albert Goodman therefore work hard to keep your accounts in shape while you concentrate on your day to day business.

Over recent years, the internet and associated discount retail outlets have had an impact on the old style Golf Pro who historically used to be the main supplier of all golf clothes and equipment to players. The modern Pro and his shop offering has therefore had to change to defend their position and finances. As well as competing on price with the internet in these areas, perhaps by belonging to a buying group, the Pro has evolved into providing a much more professional experience for selling golf clubs. This may include, a custom golf fitting service where they use their PGA qualifications and know-how built up over a number of years. This often takes place in a swing studio, where launch monitors can help to fit the most optimal equipment to an individual player’s swing. Follow up lessons are then much easier to give so as to continue to help the golfer lower their handicap. As specialist golf accounants in Somerset, Albert Goodman understands the golf market and can help the Golf Pro ensure that they are keeping their finances within bounds.

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