Accounting for solicitors is an area that requires specialist expertise and an understanding of the sector. We at Alexander Myerson & Co Limited have a rich history in acting for firms of solicitors of all sizes.
Whether you are a sole trader, partnership, limited company or LLP (Limited Liability Partnership) we have the experience and knowledge to deal with all types of work that you will require and additional work that will be of great benefit to your practice.
We regularly assist in areas such as SRA Accountants Reports, Accounts Preparation, Audit, Personal and Corporate Tax, Tax Planning, Vat and Payroll. Throughout the year we will also assist when required and appropriate in areas such as Current and Future Legal Structure of the business, Business Growth, Acquisitions and Mergers, Business Valuations, Assistance with raising Finance and liaising with Financial Institutions, Succession and Exit Strategies.
At Alexander Myerson & Co Limited we are committed to ensuring that our staff are fully up to date with any changes within the sector in order to provide the best possible service to our solicitor practices. To do this we regularly enrol our staff on training courses specifically aimed at work involving Solicitors to ensure they are up to date with current issues and any regulatory changes.
As fellow professionals we understand how demanding your work life can be. We take very seriously our commitment to get to know you as much as possible in order for us to look after the compliance work that is required and to provide the timely pro-active advice that will help take your business forward and leave you with more time to concentrate on what you do best.
Who can help
Recent changes to the format of these reports and the criteria for qualifying accounts and submitting them should reduce the burden on Practices. Contact us for the most up to date information to ascertain what your requirements are.
Solicitors often have difficulties when billing in identifying those items of expenditure incurred by themselves in the course of acting for their client which can be classified as disbursements for VAT purposes, and those which cannot. Specific criteria must be met. For more information, please contact us.
Solicitors must comply with the rules listed in the SRA Handbook for transferring client monies to ensure that they operate within the law. Solicitors must adhere to the many stringent rules listed to ensure that there are no reportable breaches and clients money is protected at all times.
There are many factors that will decide what is the right structure for your business. We are happy to sit down and discuss with you what is best for your practice.