You do the law, we’ll do the numbers
At MHA Carpenter Box we have been working with lawyers and solicitors’ practices in the South East and London for many years. Our accountants, auditors and tax specialists have considerable experience in the legal sector, which means we understand the opportunities and challenges facing the profession and are well positioned to add real value to your practice.
Our aim is to help you perform better as a business and ultimately become more profitable. Our tax expertise is far reaching – from ensuring relief for all expenditure is maximised, creating effective remuneration packages for your employees, to helping you determine the best legal structure for your business including help with a transfer into a LLP.
Through our national association MHA, our expertise is recognised nationally. This year, an MHA member firm was invited to speak at the Solicitors annual conference 2017. Janet Taylor and Kate Arnott of MHA MacIntyre Hudson presented on the impact to Reporting Accountants from the changes to the SRA Accounts Rules in 2015 and those changes on the horizon.
Services for solicitors and their firms…
Audit and Assurance
Providing audit and assurance service to solicitors requires a high level of expertise. The Client Money audit is required under the Solicitors’ Accounts Rules, regulated and enforced by the Solicitors Regulation Authority.
By working alongside practising professionals our specially trained team has developed an in depth knowledge of the 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 taxation under self assessment, whether you are operating through a traditional partnership or an LLP, is a potentially complex area. As a result of successive changes to the tax treatment of the various structures, the individuals involved and key items such as goodwill, timely guidance has never been more important. Take advantage of our expertise in advising partnerships to ensure that tax liabilities are kept to a minimum.
Tax Planning for Partners
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 your business and personal tax positions as efficient as possible.
Subcontractor service for solicitors firms
You’ll be amazed at what we can offer. Your clients will get a great service from you with us taking care of the numbers in the background.
Our other services include:
- Annual accounts
- Assistance with preparing and/or meaningful review of management accounts
- Benchmarking service
- Finance Director services
- Partnership or LLP tax compliance
- Wealth management & independent financial advice (in conjunction with Carpenter Box Wealth Management)
- Help with strategy and business development
- Advice around law-firm mergers and acquisitions
For more information and an informal chat contact Charlie Eve.