Our services for Legal clients

At Knill James we have been working with legal clients for many years and have an established Professional Practices group to provide a seamless, integrated accounting, taxation and consultancy offering to legal service professionals.

For Barristers, we are able to undertake the full range of book-keeping, accounts and tax compliance services. We understand the detailed HMRC rules regarding barristers' accounts and can call on our tax experts for advice on wider tax planning as and when required.  

Solicitors in practice are facing perhaps the most challenging times in their professional history.  Equally, there are unparalleled opportunities for individuals and firms able to embrace change and adapt to the evolving new markets in legal services. Our aim is to provide the day to day support with your financial management needs together with the strategic advice that will help you achieve success for your firm long into the future.

We are able to provide a wide range of specialist services for solicitors:

  • We have many years experience in undertaking Solicitors’ Accounts Rules audits.
  • We can provide accounting and technical support, in addition to advice on financial and cashflow management, and billing/cash collection.
  • We can conduct internal audits and produce reports for Practice Leadership, advising on issues such as best governance practice.
  • We offer a comprehensive VAT service, providing answers on specialist issues, helping you with ad-hoc queries and giving you practical advice on how to manage HMRC inspections and investigations.
  • We can provide specifically tailored Tax services for individual partners and the partnership as a whole.
  • We can advise on the issues (positive and negative) surrounding incorporation and limited liability partnerships (LLPs) and guide you and your partners as you decide on the best solution for your individual practice.  And once your decision is made, we can help you make sure you take all the necessary steps to manage the process smoothly.
  • If you are looking at either buying or merging with another practice, or perhaps even selling your practice then we can advise on the negotiations and valuations, look at the tax efficiency of the transactions and resulting structures.

We can also provide strategic consultancy advice geared to helping you build a more profitable and efficient firm. We can, for example, prepare a financial benchmarking report comparing your practice to others in the sector, highlighting potential areas for improvement by looking at key performance indicators (KPIs) such as profit per partner, chargeable hours, recovery rates, staff gearing and your charging structures.  This will help you identify areas of strength and opportunity in your performance.

To find out how our Professional Practices group can make a difference for your Legal business, contact Nick Rawson or Kevin Powell on 01273 480 480

"The support and advice given to us by Knill James has helped us make the right decisions for our business."

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