Services for solicitors and their firms.

'You do the law, we'll do the numbers'

Working for SolicitorsA truly comprehensive service which can help your profitability, mitigate the tax you pay and provide partners with a personal wealth management service.

We have been working with lawyers and solicitors' practices in the South East and London for many years. With accountants, auditors and tax specialists having experience in the legal sector we have a strong offering and understand the opportunities and challenges facing the profession.

As you might expect, we can help with regulatory audits or with your management and annual accounts but we go even further. For instance, if you are a smaller firm with a traditional bookkeeper we can become your virtual FD, even attend partners meetings and help you keep a handle on your firm's key performance indicators.

Carpenter Box has developed a range of services for lawyers that we think can benefit any law firm as well as the partners who hold an equity share in it. Amongst the services we offer are some that you would expect, and some that we think are truly innovative and bring an added dimension to our offering:-

  • SAR Audits
  • Annual and Management Accounts
  • KPI advice
  • Partnership or LLP Tax compliance
  • Tax Mitigation Advice
  • Personal Wealth Management including integrated Tax and Investment Advice*
  • Joint venture Independent Financial Adviser opportunities*
  • Sub contracting for solicitors in Trust and Estate Administration

Audit and Assurance

Working for SolicitorsProviding audit and assurance service to solicitors requires a high level of expertise. The Client Account audit is required under the Solicitors' Accounts Rules which are regulated and enforced by the Solicitors Regulation Authority.

By working alongside practising professionals we have developed an in depth knowledge of the solicitors' accounts rules and a detailed understanding of the business drivers of professional legal partnerships.

Our auditing procedures ensure that your records meet the relevant standards. Following audit completion, we provide comprehensive management letters, which highlight any potential breaches and recommend best practice to help you reduce the risk of potential criticism from the SRA/Law Society. When the rules change, as they do from time to time, we can assist in implementing any modifications needed to maintain compliance.

Partnership Tax

Both Partnership Taxation Under Self Assessment and the advent of LLPs are both potentially complex areas. Take advantage or our expertise in advising partnerships to ensure that partnership tax liabilities are kept to a minimum.

Tax Planning for Partners - especially important with the arrival of a 50% tax rate...

In relation to personal taxation, as well as dealing with the completion and submission of your Self Assessment return and calculating your income and capital gains tax liability, we can advise you on how to take advantage of the available reliefs to partners of professional practices. Our Chartered Tax Advisers have a wealth of knowledge on Tax Mitigation and Wealth Management strategies to make clients' businesses and personal tax positions as efficient as possible.

Subcontractor service for solicitors firms

Take a look at our Trust and Estates page for solicitors firms. You'll be amazed at what we can offer. Your clients will get a great service with us taking care of the numbers in the background.

Other Value Added Services for the legal sector from Carpenter Box

As well as the services you might expect we can help in other ways. Chris Coopey, one of our Directors, was previously a practising solicitor and Partner involved in the management of a large regional law firm. Chris is a member of the Law Society's Law Management Section. For some 7 years he specialised in Business Development, Law Firm Strategy and IT. He successfully took the firm through both the Lexcel and IIP process first time, moved them to a thin client IT environment and helped to professionalise their marketing effort so as you can guess, we offer a great deal more than just compliance services! We're here to help your firm to succeed as a business in a very competitive marketplace.

For more information and an informal chat contact Hilary Julian or Chris Coopey.

* Provided by Carpenter Box Wealth Management LLP, authorised and regulated by the Financial Services Authority.

Registered to carry on audit work and regulated for a range of investment business activities by The Institute of Chartered Accountants in England & Wales