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.

Meet the team