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Accountants for Solicitors
Our comprehensive services to support solicitors include litigation support and practice services.
Any transaction – an acquisition, merger, investment or the sale of property – has tax implications. Structuring these to minimise tax often involves difficult technical points, such as the complex VAT rules on property.
Our tax consultancy can save you time and money by providing expert advice on all aspects of tax, including the effects of capital gains tax on asset disposals, the planning and review of wills with regard to inheritance tax, post-death variations or the valuation of an estate for probate purposes.
Our team can help you as well as your clients. We can advise on areas where savings could be made, minimising tax during a partnership change, and how this affects its timing, valuation of goodwill and what sort of financing is best.
Our VAT expertise may also help you to make substantial cash flow savings if you can convert some, or all, of your business to a cash accounting basis, if appropriate, and we can review your records prior to an HM Revenue & Customs visit, to avoid the cost of misdeclaration penalties.
We will work alongside you to prepare cases involving fraud, compensation claims or questions of security of costs. In divorce cases or business disputes, we can provide valuations or trace assets, working to tight deadlines where necessary.
We can also act as expert witnesses to comment on accounts, procedure or professional conduct.
Our practice services are specially geared to professional partnerships. For example, when we audit clients’ accounts, we take great care to see that these comply with the Law Society’s Solicitors Accounts Rules.
We will report even minor breaches of these rules and where there could be potential weaknesses in your system, to avoid problems in the future.
The rules now stipulate that reconciliation of clients’ accounts should be done at least every five weeks. Computerised systems are essential and we can advise on suitable IT solutions.
For more information about how we can help you, please contact David Landau.
