For a number of years, we have been acting for firms of solicitors across the region, and have built up detailed knowledge and experience within the industry. We can offer specialist advice on accountancy and taxation services, business strategy and advice in industry-specific areas including:
- Matrimonial valuations
- Accountant's Reports for the Solicitors Regulation Authority (SRA)
- Business structuring
- Gaining accreditation such as Lexcel
- Professional Indemnity Insurance
For firms of Solicitors in England and Wales, the implementation of the largest change in SRA rules for a number of years has created a number of challenges. Firms would have changed their systems to ensure that they were compliant and this was an understandably confusing process for many. We have provided advice and guidance to assist clients in making the integration of the new rules as efficient and smooth as possible.
Gaining accreditation can involve a lot of hard work and time for firms. However the benefit of being Lexcel Accredited presents a great opportunity to gain a competitive advantage, as well as the potential to make savings on the costs of Professional Indemnity Insurance.
In recent times, Professional Indemnity Insurance has been increasingly difficult to acquire, with costs rising due to a growing number of claims being made. Also, changes in the structure of some firms to Alternative Business Structures, has often lead to a higher perceived risk, and therefore this has affected the ability of, and terms on which, a firm can obtain cover.
It is a very exciting time for Solicitors and with the right expertise and guidance, there is a great opportunity to expand and increase profits.
For more information about our services in the legal sector, contact Gary Brown on 023 80461240.