Legal Practitioners
We have specialist principals and staff dealing with accounting, business and tax issues for the legal profession, and experience in acting for both solicitors’ firms and barristers.
In addition to the compliance services covering accountancy, income tax, and the Solicitors’ Accounts Report Rules, we place great emphasis on giving good business advice to professional firms. This covers looking at practice performance and in particular considering fee recovery rates and lock-up of cash in work-in-progress and debtors. We give advice to solicitors’ practices on the introduction of new software systems, helping them to implement the transition from their existing accounting procedures, and training their staff as necessary.
We assist practices with cash flow forecasts and new project development, including advice on the purchase of practice property and succession planning, which is frequently a key issue for lawyers.
We look at structures for practices which include limited liability partnerships, limited companies as well as traditional partnerships.
We regularly hold seminars for legal professionals on topical issues. We are an approved Law Society course provider.
In summary, the services that we offer to the legal profession are as follows:
Completion of the report for the Solicitors’ Accounts Reports Rules
- Advice on compliance with those rules
- Pro-active advice on new issues for lawyers
- Practice management advice
- Improving profitability and cash flow
- Succession planning
- IT implementation and updates, including staff training
- Income tax and capital gains tax issues
- Pension planning
- Payroll bureau for employees
Contact us for more information on our services for legal practitioners
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