Solicitors

As solicitors you have a number of requirements:

  • The most important is to run a profitable practice and maximize your income.
  • Secondly you need to grow your practice and increase you visibility within your own business area.
  • Finally you have to comply with the Solicitors Accounts Rules.

The areas where we believe that we can help build your practice are:

  1. Advising on structures
  2. Appraisal and reward systems for partners and staff
  3. Resolving partnership disputes
  4. Practice funding and capitalisation
  5. We can review your structure:
  6. Should you remain as a Partnership?
  7. Should you change to an LLP?

We can advise on taxation issues:

  • Tax planning for partners and the practice
  • Preparing partnership tax computations and returns
  • Specialist VAT advice
  • Assisting partners with personal tax returns
  • Pension planning for partners

We shall of course prepare your annual accounts and more importantly ensure that you understand them and most importantly ensure that they are consistent with your management accounts. If you do not receive regular and informative management information then you are not controlling your business. In order to run your business you need the following information each month:

  • Monthly and cumulative profit & loss account
  • "Lock up" figures:
    • Aged debtors
    • Aged work in progress
  • Monthly partners current accounts
  • Monthly un-recovered/charged disbursements
  • Chargeable time
  • Levels of recoveries

Unless you receive and discuss these issues you will not positively control your business. We can help - Call us at either our Richmond or Windsor office to discuss how we can prepare the information that you need and explain it to you.