Our 2020 Crowe Law Firm Benchmarking results provide an intriguing snapshot of our participants financial position as they braced themselves for the beginning of the COVID-19 pandemic, along with an indication of how they responded in the first six months of this unprecedented event.
Read more and download our survey
Insights and news
HMRC review of VAT concession on counsel’s fees
Are your people working from other jurisdictions?
Employer plans for the festive celebrations
SRA gets tough with firms on money laundering compliance
Tax rules on partner profits set to change
Helping your clients navigate the new normal
The uncertainty of the COVID-19 pandemic is forcing firms to focus on cashflow. Cash is king - are you maximising your cash in and managing your cash out?
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.
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.
A review was undertaken of the available ‘off the shelf’ solutions, and it became quickly apparent that the software packages in the market did have the required capability to create personalised working practices in an electronic environment that encompassed all of the requisite enhancements.
The firm decided to undertake 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 firm to invest in a significant number of man-hours. With limited funding available to the firm, they sought access to R&D tax benefits to subsidise the cost of the project which was conducted via a subsidiary company and therefore 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.
Confronting challenging issues your firm may face.
Response from the Solicitors Regulation Authority
New SRA Accounts rules are now effective, bringing greater flexibility and less prescription