Legal

Practice structure & incorporation advice

Each type of structure has its benefits and we can help you decide which works best for your firm.

We act for over 300 law firms of all different types of structure, including LLPs, companies, partnerships and sole practitioners. We have over 20 different structures within our current client base.

Structure planning

We’re here to advise you with structure planning so you can achieve your personal and commercial objectives. We can help with:

Introducing new partners or shareholders
Practice valuation
Advising on buying-out departing partners or shareholders
Company purchase of own shares
Practice mergers, demergers or splits
Maximising tax efficiency for your firm.

Incorporation advice

We can advise on the optimum business structure for your firm – whilst incorporation remains a hot topic for law firms, is it right for you?

You’ll want to understand any potential benefits available to your law firm, the tax regime applicable and regulatory requirements. We provide a comprehensive assessment, setting out everything you need to know about incorporation, to enable you to make an informed decision. We’ll guide you through the whole process, including:

Valuation of potential goodwill
Understanding the different tax regimes
Estimating the tax and cashflow implications
Optimising the timing of the change
Forming the company and other company secretarial matters
Liaising with your financial and legal advisers as required to produce the necessary agreements
Liaising with HMRC on PAYE and VAT matters
Applying to the SRA for approval of the new business entity
Working with your finance team to adapt your accounting records
Creating a tax-efficient remuneration structure for the owners.