Legal Profession

The legal industry has gone through a difficult period in recent times. From an accounting point of view it has seen the removal of the cash accounting basis, the changes to income recognition together with increased responsibility for those holding client money. Those involved in conveyancing are faced with the potential impact of Home Information Packs from 2007, and all legal businesses find the recruitment of the right individuals an increasing challenge. And on top of this the threat of litigation always seems to loom larger.

Whatever your business structure - sole trader, partnership or limited company - we can help you manage your profitability through our specialised services. We guide you through the maze of regulations imposed on the profession, help you to minimise your compliance costs and help you to build a successful future.

Through years of service to the legal profession we have accumulated a wealth of experience in dealing with issues such as:

  • Business structure, whether that is as a sole-trader, partnership or even corporate
  • Law Society reporting for Client Monies
  • Accounting for income from different sources such as conveyancing, no win no fee and asset-value related
  • Partnership arrangements such as income sharing or joint ownership of premises
  • Advising solicitors and other professionals on minimising their tax liabilities
  • Succession planning

And, of course, we can help with all your accounting, tax, and audit requirements.

If you would like to discuss any aspect of our services with us further please click here.  Alternatively, contact us on 01293 521191.