Hartley Fowler have been providing solicitors with accountancy services for many years and today solicitors’ practices make up a significant part of our client base. This experience has given us the ability to provide solicitors with a comprehensive range of tailored accountancy services. Solicitors who hold client money are required to meet the Solicitors Regulation Authority code of conduct (“SRA”) on an annual basis, within six months of their year-end. Hartley Fowler has the necessary experience to carry out the compliance work under the SRA Accounts Rules 2011. We will provide the solicitor with an Accountants’ Report for ultimate submission to ensure SRA compliance together with other necessary documentation and feedback.
In addition to the solicitors compliance work, we can provide the solicitor with practice budgets and cash flow forecasts to assist them in making informed financial management decisions concerning their practice. The UK economy is, at best, unpredictable and the provision of timely monthly or quarterly management information may provide the solicitor with the essential information and confidence to take their business forwards.
Hartley Fowler will also provide the solicitor with the annual practice accounts. The format of the solicitors accounts will depend to a large extent on the structure of the practice but for an unincorporated practice they can be tailored to provide the solicitor with as much detail as is required, ensuring SRA compliance.
Many solicitor practices have changed significantly in recent years. Partnership arrangements have become more complicated and some practices have elected to merge with other firms or limit the partners’ liability by incorporating the practice into a Limited Liability Partnership. If this is something that you are considering then please contact your local Hartley Fowler office