Professional Practices

Helping your professional practice to succeed.

With continual changes and updates to legislation and an ever-increasing need to be diligent and limit your liability, we understand the issues that affect professional practice and the range of financial and accounting support required to help your business succeed.

We act for a large number of professional firms located throughout the South West and beyond. Our clients range in size from sole practitioners to firms with annual turnovers in excess of £50million.

We have a vast portfolio of clients, including:

• Solicitors
• Barristers
• Hospital consultants
• GP medical practices
• Dentists
• Vets
• Surveyors
• Architects
• Estate agents and auctioneers

We advise on all the financial, tax and accounting issues facing the modern professional practice, including:

• Structure – whether to act as a sole trader, partnership, Limited Liability Partnership, company or as a hybrid
• Acquisitions, disposals, mergers and demergers of offices and firms
• Admission and retirement of partners
• Raising capital to acquire an interest in the firm
• Partner remuneration structures
• Funding issues for firms, including property and IT/equipment expenditure
• Valuations of firms and/or partners’ shares
• Property ownership issues including whether to hold assets inside or outside of the partnership and the use of pension vehicles to hold property
• Partnership/shareholder disputes
• Partnership taxation, including tax reserving for partners