Professional practices

We have a unique expertise outside of London when it comes to dealing with the tax affairs of professional practices. For many years our two founding Partners ran the tax affairs of a large actuarial partnership. We can deal with the most complex partnership structure imaginable and we understand the nuances from an in-house and an external adviser perspective.

Our services to Professional Practices

Tax Compliance

  • Preparing the partnership’s tax computation based on the firm’s accounts, including liaising with auditors and finance committees as required
  • Preparing the partnership’s tax return and partner statements
  • Preparing each individual partner’s tax return
  • Calculating partner tax provisions for the firm’s accounts and liaising with the firm’s finance department
  • Making payments to HMRC on behalf of individual partners and providing partners with appropriate reconciliations and support
  • Dealing with P11d’s for all employees

Partner Matters

  • Dealing with all implementation of partner remuneration and partnership capital issues
  • Providing financial induction to new partners
  • Dealing with financial projections and calculations for departing partners
  • Providing discreet advice to partners on their personal taxes, remuneration and financial planning concerns

Advisory

  • Assisting the management and/or the HR team with calculations and advice on hiring and seconding partners and on partner departures
  • Looking after the financial implications of expatriate moves within the firm
  • Strategic partnership tax planning
  • Tax cash-flow planning and forecasting
  • Setting up and running trust arrangements to deal with deferred or bonus compensation

Contact Us today to discuss how we can help you get your business off to a great start.