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Professional Practices

Our Approach
Our dedicated partner-led team takes a keen interest in the professional practices sector, including solicitors, chartered surveyors and letting agents. Our objective is to transfer the burden of your administrative compliance to us, to enable you to concentrate on managing your practice.

• Preparation of annual accounts, whether for a sole-trader, partnership or incorporated practice
• Provision of an independent examination and Accountant’s Report in accordance with the rules of the relevant professional body e.g. Solicitors’ Accounts Rules, RICS Members’ Accounts Rules etc
• Tax Return preparation and tax planning for the practice and partners or directors
• Review of management information and Key Performance Indicators
• Production of forecasts and cashflow reports that will enable you to evaluate, improve and develop the efficiency and productivity of your business.
• Review of client accounts and related records and advice on systems, procedures and compliance issues
• Preparation of periodic management accounts
• Confidential payroll preparation and advice on related issues including employee benefits and National Insurance
• Preparation of VAT Returns and advice on VAT issues
• Advice on the implementation of computer systems
• Assistance with the recruitment of legal cashiers and the provision of temporary bookkeeping cover
  
  

Medical Practices

Our Approach

We have been advising doctors, dentists and medical practices for many years and have built an in-depth knowledge of the medical sector.  As you would expect, we do more than produce the practice accounts and handle the partners’ tax affairs.  Using our knowledge of NHS general practice and expert advice, our aim is to keep the practice’s finances healthy and to help the practitioners to plan ahead.

• Annual accounts preparation, to include meeting to discuss draft accounts
• Dispensary accounts
• Performance figures comparing client practices
• Partners’ personal tax returns and partnership tax return
• GP certificate of NHS pensionable income
• Bookkeeping advice
• Advising on projected profits and tax liabilities
• Partnership changes, retirement planning and partnership agreements
• VAT
• Pension planning
• Payroll services

Focus on services

Strategic planning
We have a thorough knowledge of how practices are funded (from the global sum to the quality framework) and are familiar with the GMS statement of financial entitlements, PMS contracts and the NHS pension scheme.  We can advise on practice based commissioning, alternative provider medical services contracts and the developing primary care market.

AISMA member
As a member of the Association of Independent Specialist Medical Accountants we can offer a specialist one-to-one service.  We have the advantage of being part of a national network but can still provide you with a strong personal service.

Farms and Landed Estates

There is much more to a set of annual accounts than just keeping the HM Revenue & Customs happy.  Accurate, up-to-date accounts are a vital management tool providing the information needed to ensure your business succeeds.
With accurate information you can make informed decisions for the future of your business. Accounts prepared in our format will enable you to:

• Make comparisons with past performance
• Make comparisons within the industry
• Identify your strengths and weaknesses

Keeping records

Effective accounts can only be prepared from good farm records. We can provide advice on up-grading annual recording systems or the installation of computers. We have experience of specialised software and can assist you to set up the records your business needs.  Alternatively, you may care to use our bureau service which can provide management accounts each month or quarter, VAT submissions and year end accounts.  Efficient recording enhances your financial control and makes the preparation of annual accounts more cost effective.

Budgets and Cashflows

Managing your overdraft can be as important as managing your crops or stock. Controlled borrowing minimises finance costs and by monitoring cashflow and preparation of a budget you can:

• Achieve more timely sales
• Plan capital expenditure
• Control your future spending
• Appraise plans for the future
• Assess individual enterprise performance and enterprise mix
• Improve your profitability
• Provide an objective review of your whole business

Rawlinsons can set up your cashflow and guide you in planning your management budget.

Non UK Businesses

For a non UK business wanting to set up operations in the UK, either as a branch or a separate legal entity, Rawlinsons offers a full range of services including advice and assistance on the following:

• How to set up and run a business in the UK
• Bookkeeping, payroll and VAT accounting, together with the provision of these services for the business if required
• Statutory obligations and company secretarial matters, including a full company secretarial and registered office service if required
• Recruitment and relocation of staff
• Locating premises for purchase or rent
• All aspects of taxation

Charities

Like any other business, charities will encounter commercial and other problems and will need guidance and advice in dealing with them.  Rawlinsons is pleased to offer the solution and welcomes the opportunity to discuss your particular requirements and needs.

For many years charities have mainly relied upon the good nature of their trustees and other volunteers to ensure the fulfilment of their objects. Public accountability means that nowadays the art of good stewardship takes on a greater significance. Charities must become more professional and business-like in response to the increasing demands made upon them by their beneficiaries and the competition for charitable donations. Accounting and fiscal regulations take up time and resources which trustees would prefer to see devoted to fulfilling the charities’ objects. Many perceive the wisdom in consulting a team of enthusiastic advisers familiar with the unique requirements of the voluntary sector.

Our aim is to provide high quality advice to charities and other not for profit organisations. Clients benefit from the timely cost effective services delivered by a team who take a keen interest in the voluntary sector.

Our services include:

• Preparation of management and statutory accounts
• Advice on accounts presentation, best practice and SORP
• Internal control and stewardship reviews
• VAT reviews and planning
• Gift aid claims and advice on tax effective giving
• Provision of independent audit, review or examination
• Liaison with the Charity Commission
• Charity trading and trading subsidiaries
• Charity registration and secretarial responsibilities
• Confidential payroll preparation and advice
• Assistance with Lotteries Board and other grant applications

Our primary service is to assist you with improving your management reporting. This can be done in several ways: looking at nominal code structures; designing reports within accounting software; reviewing accounting procedures; linking to Microsoft products to increase flexibility or to create charts; providing data analysis tools; and most importantly training.
Our services include:

• Advice and assistance with supply of suitable software/hardware
• Review of current IT systems
• Setting up accounting software to improve management information
• Financial modelling and forecasting
• Linking software to Microsoft products for enhanced management reporting
• Supply and advice on the range of Sage software, including accounts and payroll
  

Litigation Support

Litigation has become a more sophisticated process over the last few years. The parties have, as a result, become increasingly dependent upon expert assistance from other professions as well as lawyers. The assistance is required for the following purposes:

• to evaluate the merits and value of a claim
• to take the steps which are necessary to prepare the case for Trial
• to provide Expert Witness evidence at the Trial

Since many civil disputes centre upon monetary considerations, accountants have been at the forefront of providing this support to lawyers and the disputing parties. This assistance is known as litigation support.

Although the need for litigation in business is infrequent, when it does arise it must be delivered effectively. Rawlinsons has a specialist partner, Colin Crowley, who deals with this type of work. In addition to possessing considerable professional experience, Colin is accredited by the Law Society as an Expert Witness.

Over the years we have dealt with a variety of cases, revolving around loss of profits (due to accident or personal injury) and matrimonial disputes.  We have worked closely with several firms of solicitors to assess the financial strengths and weaknesses of their cases.

We are willing to review cases in outline to provide initial opinions as to the strength of the accounting evidence and the likely cost of the services to be provided by Rawlinsons. This review will take place prior to formal instructions and without cost or obligation.

Property

In recent years we have seen a rise in the UK property market with good rental yields and capital appreciation. Few specific tax reliefs are available to the property sector and thus advance planning is especially relevant to ensure that the minimum of tax is legitimately paid. Many operators in the property sector have used limited companies as a vehicle for purchase. We can assist with preparation of the relevant accounts and have the specialist knowledge to advise on specific issues such as property valuation and the taking of profit on developments.

VAT is a potential minefield for those operating in the property sector with complex rules and harsh penalties if reporting and structure is not correct. We help plan property transactions to minimise VAT exposure and to assist with VAT accounting and returns where necessary. We also provide guidance on the difficult decision of whether or not you can and should elect to waive exemption from VAT.

Whether you are operating through a limited company or not we can assist with preparation of accounts to comply with all relevant legal and taxation requirements as well as providing you with useful management information. Consideration may need to be given to the value of properties in the accounts and also to such issues as to whether to treat certain items as repair or improvement expenditure.

We assist with minimisation of tax on rents and also look to take advantage of available reliefs when considering capital gains tax and inheritance tax on property ventures. 

Our services include:

• tax-effective structuring of property ventures
• minimising VAT on property transactions
• accounts preparation and audit
• acquisition of holiday homes and investment property abroad
• purchase of business premises
• use of pension arrangements
• selling land or part of your garden
• stamp duty land tax

Retirement and Investment Planning

Rawlinsons can offer comprehensive Retirement and Investment planning through Rawlinsons P.I.P. Limited.

The services we offer include:

• Financial healthcheck

• Independent review of existing arrangements and transfer analysis
• Self administered schemes (SSAS and SIPP)
• Investment advice in connection with your pension plans
• Pension solutions for directors and businesses

• Investment services for Individuals, Pension Schemes (including SIPP & SSAS), Trusts e.g. Discretionary and Accumulation & Maintenance, Charities and Companies
• Investment bonds
• Individual Savings Accounts (ISAs)
• Collective investments
• Managed fund portfolios
• PEP/ISA transfers

Protection

• Individual
• Group life schemes (including permanent health insurance)
• Income protection

Rawlinsons P.I.P. Limited is an appointed representative of David Booler & Co, which is authorised and regulated by the Financial Services Authority.