Legal Profession

Ribchesters provides a wide range of specialist services to the Legal Profession.

 

Many are to give the support and guidance required to assist Solicitors and Barristers comply efficiently and effectively with their own responsibilities in areas of accounting, audit and taxation.

 

Others are to help add value to their client service delivery by providing cost- effective “add-on” services to complement existing in-house expertise.

Accountancy

We can provide a range of accounting expertise in preparation of accounts for the legal practice itself.

 

Many practices are partnerships and there are a number of different ways of accounting for many complex and sensitive business issues such as the office premises, motor vehicles, goodwill and partnership capital, amongst other things.

 

The current requirement for professional practices to account for tax profits on an “earnings” basis and the recent changes to income recognition rules have produced additional complications.

 

Rarely will any two practices be alike - we can guide you through the issues and the options to find the best solutions for your practice.

 

Whilst a number of legal practices have in-house capabilities in the production of accounts for Trusts and Estates, several do not, often because the requirement to do so occurs relatively infrequently in that practice. Others will do so but are not particularly comfortable with the issues.

 

We can provide any type of accounting assistance, either on an ad-hoc or regular basis and are happy to give advance fee quotations whenever possible.

 

Why not discuss with us how we could remove your accounting headaches so that you can concentrate on what you enjoy most and do best – solving the legal problems.

Solicitors Accounts Rules

The Law Society continues to tighten the regulatory framework surrounding the handling of client monies, making compliance ever important.

 

We have many years experience in the provision of Reports to the Law Society and are fully aware of the deadlines and their importance.

Taxation

Our specialists can ensure your own business taxation liabilities are minimised, whether it be annual income tax liabilities or longer term capital gains tax planning.

 

We can also provide specialist consultancy advice to add value to your client service in respect of any transaction or planned transaction.

 

Taxation legislation continues to change rapidly and it is difficult for any legal practice without a specialist in-house taxation department to keep properly up to date – Finance Acts, Tax Cases, Revenue Interpretations, Statements of Practice, Concessions, Statutory Instruments, Special Commissioners Decisions, Pre-Budget Reports – the list of potential changes in Tax Law seems endless.

 

Why not let us assist in these complex issues and remove some of the worry – your client need never know of our involvement.

Expert Witness Services

Our Firm has been properly assessed and approved for inclusion in the Law Society Directory of Expert Witnesses and is able to provide a wide range of financial related Expert Witness services.

 

We believe our services to be much more cost effective than those provided by the larger national accountancy firms often instructed to carry out this work, without compromising on the quality of the opinion delivered.

 

Next time your firm requires the services of an Expert in the financial field why not call us to discuss your requirements.

What next?

If you are interested in discussing further how we could assist you and your business, please contact Alan Ribchester, David Armstrong or David Holloway by e-mail to
legal-aid@ribchesters.co.uk or on 0191 3848581 for a free, no obligation, discussion or meeting.