Professional practices
Professional practices need an adviser who understands the complexity and dynamism of their often mature, highly regulated, business environments.
Niche boutique firms through to international practices have repeatedly benefited from the expertise of our dedicated, multi-disciplinary team.
Uniquely, we provide assurance, tax and advisory services to the firm and at the same time undertake tax compliance and financial planning for your partners assisting the firm achieve higher levels of financial success and enhancing the financial security of your partners.
We marry expertise for tackling broad strategic issues with exceptional technical execution on challenges including:
- Advising on mergers, acquisitions and team hires
- Incorporation and conversion from LLP to company structures and the use of Employee Ownership Trusts
- Performance enhancement and optimal funding arrangements
- Efficient structuring of overseas operations
- Providing financial well-being for partners and employees
- Succession planning and retirement
- Tax planning and advice
Annual Top 50 analysis
In collaboration with Law.com, we have analysed the latest set of filed accounts for the top 50 UK law firms for the year 2021-22, as the legal profession emerges from the shadow of the pandemic. They reveal a lacklustre recovery, with a 8.7% rise in revenues for the UK’s largest law firms. After the tough years of lockdown and slow activity, legal firm management teams will have hoped for more.
Annual Law Firm Survey 2022
The 28th Annual Law Firm Survey, conducted by Evelyn Partners in conjunction with The Lawyer, reveals a sector continuing to thrive amid the significant social and economic challenges of the last few years. We examine the changing landscape of competition, the continuing shifts in working patterns and the views of law firms on the business direction their firm will take in the next 12 months.
Irish Law Firm Survey 2022
Evelyn Partners has launched its 11th Annual Law Survey. Internationalisation of the sector, the war for talent, cyber risks, and economic turmoil are all factors that will challenge profitability in the legal sector in the coming 12 months according to the new report. Our report examines the changing landscape of competition, the continuing shifts in working patterns and the views of law firms on the business direction their firm will take in the next 12 months.
Professional Practices Leaders
Professional practices are contending with an increasingly competitive marketplace for both talent and clients. Leaders must also look at the role for technology and how to create efficiency and productivity.
In our Professional Practice Leaders section, we talk to your peers about how they have handled these and other challenges and the steps they're taking to build the practices of the future.
Professional practices advisory consulting
Professional practices operate in a changing, complex and regulated environment, with a unique set of challenges, including:
How we can help
Explore below to find out how we can help your company with your business challenges.
Accounting and assurance:
providing accounting advice and comfort on your firm’s financial reporting
Tax compliance and advice:
preparing and submitting your firm’s and partners’ annual tax returns, along with advising on the tax impact of various transactions and structures
Regulatory:
satisfying regulatory reporting requirements
Funding:
advising on finance options, including optimal partner funding, improving lock-up and working capital management and securing external investment and disbursement funding
Performance enhancement:
advising on profitability improvements, including margin maximisation, operational efficiency, cost reduction and achieving post-acquisition integration synergies
Partnership disputes:
acting as expert witness and mediating on disputes
Employee benefits:
retaining talent by enhancing your employee benefits offering.
Partners’ finances:
a full range of financial planning and investment advice to provide enhanced financial security
Profit sharing:
advising on profit sharing strategies to drive desired behaviours.
Incorporation:
assisting with the incorporation of a partnership as a company or LLP.
Investigations into rogue partner activities:
assessment of scale of inappropriate behaviours and prevention measures
Data identification post cyber attacks:
investigation into impact of hacking activity
Administration of insolvent professional practices:
formal appointments and solutions for firms in financial distress
M&A:
assisting with mergers and acquisitions, including target due diligence, sources of funding, structuring and post-deal implementation.
Why choose Evelyn Partners?
Your firm will benefit from a co-ordinated, cross-discipline service from our specialist professional practices team. We have more than 50 partners, directors and staff, providing all-round accounting, tax, business, financial planning and investment advice tailored to your needs.
With experience of more than 100 professional practice clients across the UK, we have the expertise to help steer your management team through your firm’s unique challenges, to enable you to effect change successfully.
Our active involvement with influential trade and industry bodies such as the Association of Partnership Practitioners ensures we are closely connected to the issues and concerns of professional practices and can innovate to address them.
We seek not just to solve, but anticipate the challenges professional practices face. Our insight programme condenses these issues and shines light on solutions for clients, meeting the challenges together.
A history of success
186
years of experience
£54.9bn
of assets under management, as at June 2023
28
towns and cities across the UK, Ireland and the Channel Islands