Legal and Professional

solicitorsThe legal profession is going through massive change with new SRA reporting and compliance regulations, introduction of Alternative Business Structures through which it can operate, cuts in legal aid budgets, and above all competition from the commercial sector that is unparallelled in  recent years.

The team at OBC have always enjoyed working with clients in the legal profession, and have been members of the Legal Special Interest Group at the Institute of Chartered Accountants in England Ireland and Wales since it was first formed. We act for several firms of different sizes from single office to multiple office sites.

For all professions, we not only offer the traditional compliance service through our registered audit, accounting and tax departments, but also offer advice on the most effective structures and organisation that would be most appropriate for each individual business.

AUDIT - As part of any audit work, we not only report as required from a statutory point of view, but we also actively make recommendations where we think systems can be improved to avoid qualifications, and to help your business commercially.

ACCOUNTS - On their own, annual accounts have little value other than to confirm what you already know. Our approach is to ask to see your monthly/quarterly management accounts so we can keep informed about your "trading" performance against preset budgets, with which we offer to help. 

We believe that by being informed, we can be proactive and can offer both commercial and tax planning advice when and if appropriate, to allow you to make the right management decisions at the right time.

TAXATION - As with accounts, a historical tax return is of little value to you other than to confirm the tax payable.

Our approach is to ask you to share your annual plans for capital disposals/acquisitions, as well as your plans for investment income and gains, so we can offer advice about the most effective organisation of your affairs to legally minimise your tax liabilities.

SUPPORT TO YOUR CLIENTS - We are happy to offer you support in respect of your work with clients, especially from a taxation planning point of view.

Call Andy Hill or Mike Ogilvie today 01323-720555 to discuss how we can help you.

 

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