Trading Structure Review Services

Armstrong Watson can help you decide upon the most effective operating structure for your law firm. That way you can ensure that your business structure compliments your business objectives and financial goals.

Following an initial face to face assessment meeting to understand your law firm, your objectives and priorities we will provide:

Summary notes on the implications of various structure options.
A bespoke report on the most likely structure options for the particular law firm, outlining the anticipated taxation implications by partner. This part of the service is an optional extra.

Armstrong Watson has helped over a hundred professional practices to amend their structure. This has included the use of more complicated hybrid group structures as well as limited company incorporations and LLP conversions. We have lectured nationally for MBL seminars on structure options.

Contact our Legal Sector Partner, Andy Poole, on 07828 857830 or andy.poole@armstrongwatson.co.uk to discuss how we can help you.

What is it?

The provision of information to assist law firms to decide whether their current practising structure is best suited to their needs.

Who is it for?

All law firms of all structures and sizes in all UK locations.

What are the benefits for your firm?

Reduction of risk
Potential tax efficiencies
Easing succession
Retaining business flexibility

What do I have to do?

Partners attendance at the initial meeting, or selection of members and head of finance.

What are the deliverables?

Initial meeting. Provision of notes on the implications of various structure options. Provision of estimated tax impacts of options based on a hypothetical law firm as an optional extra, to outline the anticipated taxation implications by a partner.

What is the cost?

£2,500 plus VAT and disbursements for the initial assessment meeting including summary notes. The above is the fixed fee payable in advance cost option. All services will be provided remotely via video conferencing, however, options are available for face to face if required. Any subsequent advice and implementation will be quoted for separately and agreed with you in advance.

How long will it take?

Two weeks.

What our clients say

Andy's knowledge of the legal sector is phenomenal and his in-depth understanding of the issues being faced by lawyers at this time of unprecedented change is undoubtedly of huge help to his clients. He can identify ways of structuring a legal business so as to operate within the confines of a highly regulated environment but whilst making it more effective and more profitable. He is also personable and presents informative and engaging training sessions - which are not always qualities that can be attributed to accountants!

Natalie Saunders, Managing Director, Pharos Legal