A good lawyer knows the law. A great lawyer knows Berley.

Berley’s specialist law firm accountants are highly skilled in all financial and accounting areas related to law and we continue to assist London’s law firms successfully.

At Berley, we understand the immense pressure and daily requirements of a law professional who works relentlessly to safeguard the rights of individuals and businesses. In fact, many lawyers in London do share with us how demanding and competitive their chosen field can be.

Given that lawyers often need to work long hours and make personal sacrifices, our dedicated accountants for solicitors and law firms serve to ease the minds of law firm owners and their partners by offering them specialised services, efficiently managing their accounting and tax affairs, as well as payroll and bookkeeping responsibilities.

By employing our services to oversee your everyday financial matters, you can focus on providing outstanding legal services to your clients and take steps to grow your clientele in London’s competitive market.

Specialist law firm accountants

Owning a law firm is similar to owning any other businesses in the sense that it has to respect tax and financial obligations laid out by the government. Time is invaluable for a law firm, so it’s essential that the billable hours are not wasted on figuring out your VAT or tax liabilities.

Law firms in London operate in one of the following structures:

  • Sole Proprietorship – an enterprise run and owned by one person.
  • Partnership – when two or more people operate a business as co-owners and share income.
  • Limited Liability Company – a business structure where members and shareholders have their liability limited to the contributions, which they have made or invested.
  • Limited Liability Partnership (LLP) – a partnership in which some or all of the parties have limited liabilities.

Whatever the structure of your law firm, our dedicated accountants are well versed in the applicable tax and financial responsibilities that you will be faced with. We can expertly advise you and explore ways to maximise your income while minimising your tax liabilities.

Although law firms have similar obligations to other businesses in the UK, they are also governed by the Solicitors Regulatory Authority (SRA) rules. These rules are continuously being updated, and our accountants will make sure that you’re up-to-date so that your firm can operate proficiently.

Personal services for law firm accountants

Working with Berley is a smart move because we can use our wealth of knowledge to enhance the financial health of your law firm.

Some of our accountancy and business services include:

  • Completing your accountsbookkeeping, payroll, VAT and PAYE on your behalf
  • Providing a personal tax service for law firm partners
  • Advice on business funding to help grow your law firm
  • Advice on the most tax-efficient law firm structure to adopt
  • Support on expanding your law firm internationally
  • Business valuations
  • Assisting with a cloud-based accounting system

You can trust Berley to manage the finances of your law firm

We pride ourselves on being experts in accounting and financial matters, especially when it comes to providing the services you need to run your law firm successfully. Our specialist law firm accountants strive to help make your business accounts more efficient and to find ways to increase your income and reduce your tax liabilities legitimately.

Our services include a fixed monthly fee, honest answers and no hidden charges. Call us on 020 7636 9094 or use our Online Form to arrange a no-obligation meeting and find out how we can help your law firm.

This article was first published in 2017 and has been updated on 31/07/19.

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This post is intended to provide information of general interest about current business/ accounting issues. It should not replace professional advice tailored to your specific circumstances.