Business

Legal Services

Accountants are uniquely placed to recognise and assist with the trials of managing a full service legal practice, as the challenges and opportunities are much the same as they are in an accountancy firm. Good control over work-in-progress and debtors as well as clear, up to date and regular management reporting are at the heart of any well run professional practice.

WSM acts for a number of legal firms operating under a variety of structures as well as individual sole practitioners working as solicitors and barristers. In conjunction with the legal profession, we have been at the forefront of alerting practitioners to the opportunities and threats of the new Alternative Business Structures as well as demonstrating some potential tax benefits from using incorporated vehicles.