Professional Services

With higher bank interest rates and more money being received from client accounts, law firms need to determine their VAT recovery position as they could now be partially exempt.

With law firms being encouraged to make their own arrangements with clients, what is a fair amount of interest?

Our Legal accounting team examines the SRA’s new case studies to help firms comply with the SRA Accounts Rules and provides some action points for law firms.

Our legal specialist team discusses how law firms can analyse time to add value and increase efficiency while saving time and money.

We set out options available to law firms whose cash is under strain and how getting business advice can help.

We discuss the pros and cons of different business structures, including tax reliefs.

Two years on, Ellis reviews some of the key changes of the SRA Accounts Rules and how these rules can benefit solicitors and their clients. She also looks at some of the teething issues and additional guidance issued by the SRA.

HMRC recently announced that the ‘Income Tax: basis period reform’ has been delayed until at least April 2024. This may give businesses a little more breathing space, however, if and when the reform is enacted, there are a number of matters to consider, not least the impact on cashflow.

As we approach the second anniversary of the SRA Rules, is it time to consider your systems and whether they embrace the new rules?

As the new SRA (Solicitors Regulation Authority) Accounts Rules have been in force for just over a year, it's a good time to review the rules and what they mean for you in practice.