Accounting Services for Solicitors
Solicitors face unique financial and regulatory challenges, from managing client accounts and compliance with Solicitors Regulation Authority (SRA) rules to staying on top of complex tax obligations. At Jermyn & Co, we provide specialised accounting services tailored to the needs of solicitors, law firms, and legal professionals.
Our expert team ensures your financial affairs are managed accurately and efficiently, allowing you to focus on delivering exceptional legal services to your clients.
Why Jermyn & Co?
Why Choose Jermyn & Co for Solicitors Tax Services?
At Jermyn & Co, we understand the intricacies of accounting in the legal sector. Our services are designed to help solicitors:
- Ensure Compliance – Adhere to SRA rules, including managing client accounts and audits.
- Streamline Financial Processes – Simplify bookkeeping, invoicing, and expense management.
- Optimise Tax Efficiency – Maximise deductions and manage complex tax requirements.
- Plan for Growth – Develop strategies to expand your practice and improve profitability.
With a focus on compliance and accuracy, our tailored approach supports your financial needs while ensuring your practice adheres to regulatory standards.
Compliance Confidence
Tax Savings
Time Savings
Growth Support
Jermyn & Co
Core Accounting Services for Solicitors
We provide a full range of accounting services specifically designed for solicitors and law firms, including:
1. Compliance with SRA Accounts Rules
Adhering to SRA Accounts Rules is essential for solicitors managing client accounts. We help you:
- Maintain accurate records of client money and office accounts.
- Reconcile accounts regularly to prevent breaches of SRA regulations.
- Prepare for SRA audits with detailed and compliant financial reports.
2. Tax Planning and Compliance
Legal professionals often face complex tax requirements. Our tax services include:
- Identifying deductible expenses, such as professional indemnity insurance, training costs, and memberships.
- Preparing and filing self-assessment or corporate tax returns.
- Advising on VAT compliance for services and disbursements.
3. Bookkeeping and Financial Management
Efficient bookkeeping is vital for tracking income and expenses. We assist with:
- Recording income from legal services, disbursements, and retainers.
- Managing operational expenses, including payroll, rent, and utilities.
- Providing real-time financial insights to improve cash flow and budgeting.
4. Payroll and Employee Benefits Management
If you employ staff, we simplify payroll and benefits management by:
- Handling payroll calculations, National Insurance, and pensions.
- Ensuring compliance with employment regulations.
- Advising on structuring employee benefits to attract and retain top talent.
5. VAT Registration and Compliance
Managing VAT in legal services can be complex, especially when dealing with disbursements. We provide:
- VAT registration and advice on the most suitable scheme for your firm.
- Preparation and submission of VAT returns in compliance with Making Tax Digital (MTD).
- Guidance on VAT treatment for specific legal services and disbursements.
6. Financial Reporting and Growth Planning
Understanding your practice’s financial health is key to success. We offer:
- Advice on financing options for growth or new hires.
- Monthly and quarterly financial reports to track profitability and cost efficiency.
- Strategic planning for expanding your legal practice or investing in new services.
Jermyn & Co
What our clients say about their experience with us
Jermyn & Co
Frequently Asked Questions about Tax for Solicitors
The SRA Accounts Rules govern how solicitors manage client money and office accounts. Compliance is essential to avoid penalties and maintain trust.
The VAT treatment of disbursements depends on the nature of the costs. We’ll help you determine which disbursements are VAT-eligible and ensure accurate reporting.
Solicitors can claim expenses such as professional indemnity insurance, training, office costs, and employee salaries. We ensure all eligible deductions are included.
We provide full support for managing client accounts, reconciling transactions, and preparing for SRA audits, ensuring your practice remains compliant.
Our Accountancy Services
We offer a range of services to help you manage your finances and grow your business.
Why Jermyn & Co?
Why Choose Jermyn & Co for Your Accounts?
At Jermyn & Co, we’re more than just accountants – we’re your partners in success. Our accountancy services are designed to help you:
- Stay Compliant – Ensure your financial records meet HMRC and Companies House requirements.
- Save Time – Let us handle the numbers while you focus on growing your business.
- Improve Efficiency – Streamline processes and reduce errors with expert support.
- Plan for Growth – Use actionable insights to guide your financial decisions and achieve your goals.
With our proactive approach, you’ll gain the confidence and clarity you need to succeed.
Why Jermyn & Co?
Why Choose Jermyn & Co for Business Tax?
Tax legislation in the UK can be complex and ever-changing, but with Jermyn & Co by your side, you’ll have access to expert advice and practical solutions.
Our services include:
- Strategic Tax Planning – Helping your business plan effectively to reduce your overall tax liabilities.
- Corporation Tax Filing – Ensuring accurate and timely submissions to HMRC.
- VAT Compliance – Assisting with VAT registrations, returns, and managing thresholds.
- R&D Tax Credits – Maximising available credits for your innovation and development projects.
- Self-Assessment Support – Tailored assistance for self-employed individuals or partnerships.
With our expertise, you can focus on running your business while we handle the numbers. We’re committed to helping you stay ahead of deadlines and legislation changes.
Corporation Tax Compliance
VAT Services
R&D Tax Credits
Tax Planning and Advisory
Why Jermyn & Co?
Why Choose Jermyn & Co for Personal Tax?
At Jermyn & Co, we understand that everyone’s financial situation is unique. Our personal tax services are designed to help you:
- Optimise Tax Efficiency – Leverage allowances, reliefs, and deductions to minimise your tax liability.
- Ensure Compliance – Stay on top of filing deadlines and HMRC requirements to avoid penalties.
- Plan for the Future – Align your tax strategy with your long-term financial goals.
- Simplify Tax Complexity – Let us handle the details so you can focus on what matters most.
From simple tax returns to complex financial arrangements, we provide expert advice and support tailored to your needs.
Proactive Tax Planning
Expert Guidance
Tailored Solutions
Stress-Free Compliance
Why Jermyn & Co?
Why Choose Jermyn & Co for Corporate Finance?
At Jermyn & Co, we understand that every business is unique. Our experienced team offers a personalised approach to corporate finance, helping you:
- Secure Financing – Access the funding you need for expansion, acquisitions, or working capital.
- Plan for Growth – Develop tailored financial strategies to achieve your business objectives.
- Manage Mergers & Acquisitions – Navigate complex transactions with confidence, from valuations to negotiations.
- Optimise Financial Performance – Streamline processes, reduce costs, and maximise profitability.
Whether you’re a start-up seeking investment or an established business exploring new opportunities, we’ll provide the expert guidance you need to succeed.
Business Valuations
Mergers & Acquisitions (M&A)
Fundraising & Investment
Financial Modelling
& Forecasting
Why Jermyn & Co?
Why Choose Jermyn & Co for HR Services?
At Jermyn & Co, we understand that every business is unique, and so are its HR needs. Our tailored HR services help you:
- Stay Compliant – Meet the latest UK employment laws and regulations with ease.
- Save Time and Resources – Let us handle the admin while you focus on growing your business.
- Engage Your Team – Build a positive, productive workplace with our employee engagement solutions.
- Grow with Confidence – Ensure your HR strategy aligns with your long-term business objectives.
Whether you need ongoing HR support or help with a specific issue, our experienced team is here to assist.
Payroll Management
HR Compliance
Employee Engagement & Retention
Training & Development
Why Jermyn & Co?
We offer tailored accounting services to various sectors through Norfolk & Suffolk.
Jermyn & Co
How We Help Solicitors Succeed
At Jermyn & Co, we provide more than just accounting services – we offer strategic insights and solutions to help solicitors and law firms thrive. From maintaining compliance with SRA rules to planning for long-term growth, our proactive approach ensures your practice is financially secure and future-ready.
Ready to Take Control of Your Finances?
Talk To Us
Schedule a consultation to discuss your accounting needs.
Plan and Implement
We’ll create a customised financial strategy for your legal practice.
Achieve Results
Streamline your finances, stay compliant, and grow your business with expert support.
Sector-Specific Services and Related Offerings:
