Incorporation – is it right for us? You will want to understand the benefits available to your law firm and the additional compliance and regulations that come with incorporation.
Hazlewoods can advise partners on the optimum business structure, and the options available to you. The organisational possibilities include changing to a limited company, or using one that is already present within your business infrastructure, such as a service company or corporate partner. We provide a comprehensive assessment, which sets out everything you need to know about incorporation and its implications for you and your staff and the business, and stay close at hand to guide you through each step of the process.
How can we help you?
- Valuation of potential goodwill
- Estimate of tax and cash benefits
- Liaising with your financial and legal advisers to form the company and produce the necessary agreements
- Liaising with HMRC on PAYE and VAT
- Applying to the SRA for approval of the new entity
- Working with your finance team to adapt your accounting records
- Creating a tax-efficient structure, considering:
- Salary versus dividends
- Family tax planning
- Property
- Pension arrangements