Professional Practices
Our team will help you run your firm efficiently and cost effectively to achieve your financial and business goals. We take a highly-accessible, collaborative approach associated with smaller accountancy firms and marry it with the technical expertise and reach of the largest firms. We offer international expertise coupled with local and personal delivery.
We work with a range of professional firms of all sizes advising on their growth plans and always tailoring our advice to best suit your needs.
Practice Advisory
Fulfilling your legal, reporting and filing obligations.
- Statutory audit
- Financial accounts preparation
- Regulatory client money audit
- Firm tax compliance
- Registered office services
International services
- Advice on setting up abroad
- Transfer pricing
Taxation
Providing taxation advice to your firm.
- Tax advice
- Tax compliance
- Tax reserving
- Firm VAT compliance and planning
- VAT transaction advice on client matters
- Employment taxes advice and compliance
International services
- Structure of overseas operations
- Expatriate tax planning
Motivating and incensing your staff efficiently.
- Remuneration planning
- Flexible benefits
- Employment tax advice
- Senior staff incentives
International services
- Non-domicile tax planning
- Overseas secondment and financial planning
Helping your firm analyse and risk management.
- Risk management
- Internal audit
- VAT health-checks
- PAYE settlements and compliance review assistance
- Tax risk and investigation services
International services
- Cross-border risk management
- Variance on cross-border transactions
- Overseas tax compliance
- Management and risk review
Where skill set and efficiency savings often help to avoid unnecessary recruitment and retention of staff.
- Preparation of annual statutory accounts
- Preparation of management accounts
- Preparation of profit share calculations and review of partner current accounts
- Tax compliance services
- Calculation of partner tax reserves
- Payroll preparation and compliance
- Company secretarial services
- FCA regulatory compliance
International services
- Setting up representative offices abroad
- Maintaining overseas payroll obligations
- Overseas branch and subsidiary accounting services
- Overseas tax compliance
Case study - R&D tax relief
Professional practice investing in process efficiencies
A professional practice, who having experienced significant growth in its business, sought a more efficient way of working. The firms work is complicated but also process driven. Having assessed the market for an ‘off the shelf’ solution, it was apparent that none of the available software packages had the capability to create personalised working practices in an electronic environment that encompassed all of the required enhancements. As a result, the Company undertook a large scale, complicated internal project to develop software to create electronic workflows, replacing the previously largely paper based system.
The project was costly as it required the company to invest in a significant number of man-hours. With limited funding available to the company, they sought access to R&D tax benefits to subsidise the cost of the project conducted by a subsidiary company to be within the R&D tax relief regime.
We identified a number of aspects of the development project on which R&D tax benefits could be claimed and we then helped them prepare their R&D claim.
To date the firm has received £187,000 of R&D tax credits from HMRC, with an estimated additional £60,000 due in respect of the final phase of the project.
Failure to prevent the facilitation of tax evasion
- What are the key elements under the offence?
- What prevention measures can organisations put in place?
- How can a breach occur and who is affected?
- How we can help
Law Firm Benchmarking
- Almost 70% of firms have increased headcount.
- Two thirds saw an increase in profit per equity partner.
- Aggregate growth rate across all participants was reasonable at almost 7%.
- Lock up on the rise for regions but still fare better than City.
- City fears threat of non-legal firms; regions see it as less of an immediate concern.
- Regional firms becoming increasingly nervous about Brexit.
- Industry united in the potential for harnessing Artificial Intelligence to streamline less technical operational areas of the firm.
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