The Legal Services Board (LSB) has confirmed in its annual report that solicitors in the UK will see their individual practising fees increase by seven per cent in the 2023/24 financial year to £307 from £286.
Is your company prepared to report and pay taxes on Benefits in Kind?
Benefits in Kind encompass various perks and additional payments provided by employers to their employees, such as private healthcare, company cars, loans, gym memberships, and more.
Case studies on understanding and preventing the use of client accounts as banking facilities
The Solicitors Regulation Authority (SRA) has released additional case studies to aid law firms in comprehending their responsibilities in preventing the use of client accounts as a banking facility.
What are some tax-efficient ways to incentivise solicitors at your firm?
It can be difficult to establish satisfactory incentives that are will impact retention within your firm.
Major changes for unincorporated law firms from April 2024
You might want to keep April 2024 in your mind if you are currently operating as an unincorporated sole practitioner, partnership or LLP. From this date, two significant changes to tax will come into effect. The potentially more difficult of the two is basis period reform. ‘Basis periods’ are the periods over which you are […]
Employee Share Schemes – What are the tax benefits?
Share schemes can be beneficial to employees and employers when it comes to the tax advantages that they offer, which should be carefully considered by the clients you are working with.
How do I choose the right business structure for my law firm?
Choosing the right business structure for your law firm has long-term implications, which affect things like how much tax you will pay and how the firm operates in general.
What is the key to acquisitions in your law firm?
Mergers and acquisitions (M&A) is the process of two companies becoming one and joining forces.
Trust Registration Service: Be prepared for the deadline
September may seem far away, but it is not too early for any individual or firm with a trust to be prepared for the key registration deadline for the Trust Registration Service.