Accountancy


Rawlinson Pryde & Partners believe that producing accurate accounts for our clients in a timely manner is an important part in monitoring the progress and development of businesses. We have great experience in producing accounts that provide maximum information to the business owners. We are always on hand to discuss these in person either at our Bedford office or are your premises or more remotely e-mail or call you if finding time can be a struggle.

The skill and experience of our staff ensure that the accounts produced are in a fully compliant manner to satisfy all the UK regulatory authorities. We produce accounts for clients of all sizes and across all sectors from corporate groups to single person businesses. Our aim is to provide a professional and friendly service at all levels.
Rawlinson Pryde & Partners have developed a strong tradition of preparing accounts for family owned and managed businesses and for UK based subsidiaries of International companies for both Bedford based businesses and those further afield.

The type of business structure that will benefit you best will depend on what your intentions are and how much flexibility you desire, as they all have different regulatory obligations.

We have provided accountancy services for:


 

SOLE TRADER



The simplest form of business run by one individual. The business has no separate legal identity to the individual. This means any business or personal debt is secured by either the assets of the individual or business.
An individual is required to complete a Self-Assessment Tax Return by 31 January following the prior 5th April tax year end date.


PARTNERSHIP


This is an extension of a sole trader whereby 2 or more individuals run a business together. It is good practice to have a Partnership Agreement in place setting out the rights, responsibilities and obligations of the partners as an action by one may bind the other. Partnership shares can be modified annually to give greater flexibility on sharing profits.
Each individual has to complete a Self-Assessment Tax Return and additionally a Partnership Tax Return is also required by 31 January.



 
 

CHARITIES



To become a charity they must be registered via the Charities Commission and abide by the regulatory requirements. A charity can be either incorporated or unincorporated and a lot of useful information can be found on the Charities Commission website.


COMMUNITY INTEREST COMPANIES



These are a hybrid between a limited company and a charity. It allows the shareholders to benefit out of the profits generated but also safeguards the assets and the majority of the profit for the benefit of the community the company has been set up to help.


 
 

LIMITED LIABILITY PARTNERSHIP



A hybrid of a Limited Co. & Partnership and is commonly used by professional firms seeking limited liability such as accountants, solicitors and planners.
A LLP must file accounts with Companies House within 9 months after the year end and also update it appropriately for other changes. It must also complete a Partnership Tax Return for HM Revenue & Customs.



Management COMPANY



This is a company set up for the benefit of its members. A common reason is to set up a company for the management of a block of flats in a building. Each individual will contribute funds to the company which will then pay for the various expenses incurred in the upkeep and management of the building.


 
 

LIMITED COMPANY



Has its own separate legal identity and is responsible for its own debts. Although personal guarantees from the owners may also be required.
A company must submit Confirmation Statements, Annual Accounts for Companies House within 9 months after the year end and a Corporation Tax Return. Tax must be settled by 9 months and 1 day after the year end.

Company name check availability can be found here.
The Company information registry can be found here.
Company stationery information can be found here.



Public Liability Company



Like a limited as its own separate legal identity and is responsible for its own debts. As a public limited company there are additional regulatory requirements such as the requirement of 2 Directors and having to be audited.

Annual Accounts for Companies House must be delivered within 6 months after the year end. As Plc’s are generally larger companies they may breach the thresholds and have to pay Corporation Tax in instalments.