Managing Partner Nick Paterno, and Senior Manager Tanya Hamilton head up our highly experienced legal practices team. Both are members of the Institute of Chartered Accountants Special Interest Group for solicitors and attend the Institute’s annual conference on advising law firms.
Nick has written for, and presented to, the legal professional on topics covering financial and practice management. In this era of significant change for the profession it’s important that your accountants have an up-to-date understanding of issues affecting your firm.
accounting and accounts appraisal
Practice accounts are essential to assess your practice’s performance. As well as producing your practice accounts, we can identify problem areas, and suggest strategies and procedures to help you achieve better performance. We can benchmark your results against your peer group and report on where you under or over perform your competitors.
We can help implement management reporting procedures so that your management accounts more accurately predict those results likely to be presented in your year end accounts.
solicitors’ accounts rules (SARs) reporting
Compliance with SARs is vital. We can report on your compliance each year, highlight any breaches, and recommend procedural improvements.
partnership taxation and partners’ tax returns
This specialist area requires high-level tax planning skills. Our team includes ex-HM Revenue & Customs inspectors and provides an efficient and proactive service to law firms and their partners/members.
In today’s high tax environment the structure of your firm comes into greater focus. Should you practice as a partnership, limited liability partnership (LLP) or limited company and what are the tax characteristics or each. At McBrides we can assess the effectiveness of your current structure, advise you of the benefits of more efficient arrangements as well as the practical implications of any changes and, if appropriate, help you through the conversion process to bring the exercise to a successful and tax efficient conclusion!
advisory services
We also offer comprehensive advisory services. These include everything from strategic practice development, acquisition and merger planning and due diligence, through to advice on partnership and accounting disputes and access to an independent Lexcel consultancy.
We are also accredited expert witnesses and offer various services to assist with solicitors own clients – for example, business valuations in matrimonial disputes, acting as expert witness, taxation support and advise.
If you would like any further details on any of the above, or have any other questions, please complete and submit the “how can we help?” form and one of our specialist legal team will get back to you.