Our Services to Solicitors
We have a wealth of experience in dealing with the needs of solicitors offered by a dedicated specialist team. We have legal specialists at partner, manager and senior level. Unusually amongst accountants, we also have a Trust department, whose services can dovetail effectively with those offered by a solicitor, particularly for the smaller practice. Our current portfolio ranges from small and medium sized partnerships to sole practitioners.
Compliance work
We are able to offer an all encompassing service to partnerships, partners and Limited Liability Partnerships (LLPs), including accounts preparation and audit, Solicitors’ Accounts Rules 1998 compliance and reporting, preparation of tax computations and completion and submission of tax returns.
LLP Conversions
There are many considerations to take into account when determining whether to switch to LLP. We can advise individual practices as to whether conversion might benefit them. We can also advise what steps to take if the decision to convert to LLP is made.
Mergers and practice valuations
Specialist knowledge is required to consider the accounting and tax aspects of practice valuation or preparation for a merger, and this is an area in which we have a great deal of experience. We can also carry out due diligence and assist in the merger process.
Trusts and inheritance tax planning
Smaller solicitors may not have the resources to offer a comprehensive service to their clients in areas such as trusts, preparation of wills and inheritance tax planning. We have a dedicated trust department that can offer these services and can assist in preparation of trust accounts and all aspects of trust administration, including tax compliance. In such situations it may be considered preferable to use our services rather than pass the client to another firm of solicitors. We also offer tax planning for the principals of the legal practice.
Lexcel consultations
Lexcel is the Law Society’s practice management quality mark that is granted to practices that have met certain standards of management and controls. Increasingly, Lexcel accreditation is seen as a method of meeting the risk management criteria for reducing professional indemnity insurance premiums.
We can help in obtaining and maintaining the Lexcel accreditation.
Keeping you informed
Our “In Brief” Bulletin for Solicitors provides a regular update service to solicitors in the area. We also regularly hold free seminars for solicitors, which are popular and well attended.
Click here to view our Bulletins.
