Ackland Webb Accountants
They have to deal with the same business issues, including financial management, HR and planning for tax efficiencies. Also, just like regular businesses, time spent on accounting issues is time not earning fees, which is why many law firms outsource their accountancy to us.
Specialist accountancy services for law firms
Law firms can adopt any one of the forms available to businesses generally, including sole proprietorship, partnership, limited liability company or limited liability partnership (LLP). However, unlike most businesses, solicitors are also subject to the Solicitors Regulation Authority (SRA) Accounts Rules.
The services that we can provide to law firms include:
- Advice on tax-efficient business structures
- Personal tax services for partners/directors
- Accountancy, bookkeeping, payroll services, VAT and PAYE
- Business valuations
- Assisting with a cloud-based accounting system
- Advice on financial impact when a partner joins or retires
If you would like to discuss how we might assist you, please contact us for a no-obligation initial meeting.