Specialist accountants for solicitors and law firms
Protecting legal rights and responsibilities of businesses across London, law firms are the go-to experts for advice and assistance in the practice of law ranging from civil to criminal; looking after your day-to-day finances and billings, however, is a job for a specialist firm of accountants for solicitors like Berley.
Solicitor practices are no different to regular businesses, they too face the burden of managing day-to-day financial affairs and planning for tax efficiencies. Time spent figuring out tax liabilities and VAT is time not earning fees. Solicitors and law firms in London operate in one of the following structures: sole proprietorship, partnership, limited liability company, or limited liability partnership (LLP). And the business models range from fixed fee, retainer, funded by insurance and time-based, among other arrangements. In recent years the LLP model has seen a significant rise in popularity and adoption. Whichever structure or business model you choose, there are ways to maximise your income and minimise your tax liability, areas in which Berley can help.
Unlike many businesses though, solicitors accounting practices are also governed by the Solicitors Regulatory Authority (SRA) Accounts Rules. These are going through the final stages of a review that should see the existing rigid requirements relaxed. Berley can help advise solicitors on the implications of these changes and how their practice accounting operations can be made more efficient.
Accountancy & business services to solicitors and law firms
- Advice on tax efficient law firm structure, from LLP to ABS, we’ve got you covered.
- Personal tax service for law firm partners.
- Accountancy, bookkeeping, payroll services, VAT and PAYE.
- Business funding for law firm growth.
- Support for international expansion.
- Business Valuations.
- Assisting with a cloud-based accounting system.
- Advice on the financial impact when a partner joins or retires.
Why choose Berley as your accountants for solicitors
We have a cool head for quick & decisive thinking under pressure. Find out more about the characteristics of your accountants.
Two things you will soon notice when you work with Berley is that our team of chartered accountants are hardworking and always put your needs first. Founded by entrepreneurs, we think and act differently to most accountants and no task is too big or small for us, in fact, we thrive at helping other entrepreneurs to achieve their business goals. No matter what the size of your solicitors practice, we aim to evoke a sense of entrepreneurialism and creativity in how we work with you.
As no law firms are alike and each partner has a unique financial situation, we seek to understand your business first before proposing a tailored solution that suits you best. Our aim is to help you maximise your income while identifying ways you can save on taxes. Berley’s advantages at a glance:
- Fixed monthly fee.
- Honest answers.
- No hidden charges.
Resources
Here are some other articles that will give you some more information about Berley and the work we can do for you as specialist accountants for solicitors and law firms:
Call us on 020 7636 9094 to talk with specialist accountants for solicitors and law firms
