At Mercer & Hole we have a team which deals with the complexities of Professional Practices.
We help our Professional Practices clients, such as solicitors and land agents, from compliance matters such as their client account reviews to advisory matters such as profit allocations and succession planning. In giving such advice we will draw on our experience of other Professional Practices and indeed of our own.
Our specialists are well placed to offer day-to-day support. They have many years' experience dealing with professional practices and attend regular training courses to ensure their knowledge of accounting, tax and client account rules is up-to-date. They are happy to take telephone calls to discuss any accounting queries you may have.
Our services to professional practices include:
- Advice over business structure (Partnership / LLP / Ltd)
- Preparation of management accounts (monthly / quarterly)
- Preparation of year-end accounts
- Preparation of year-end business and personal tax returns
- Client account reviews
- Advice of partnership / shareholder agreements
- Advice on succession planning
- Advice on profit allocations
- Client account training
- Profit and cash flow forecasts
- Auto-enrolment (using M&H Financial Planning)
Once the profits have been generated, tax matters are often then key for our professional practice clients. We will advise, from a tax perspective, on the optimum levels of profits to be retained in companies and will offer advice on how tax liabilities can be minimised for individuals in partnerships or LLPs. In many cases this will involve liaison with our Financial Planning team.
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