Conversion of law firms to become Limited Liability Partnerships ('LLPs')

We have vast experience of amending the structure of law firms, and LLP conversions in particular, which are becoming popular again as the tax advantages of limited companies are not as great as they once were.  LLPs are also more suitable to larger law firms.

The conversion process includes:

  • Initial face to face assessment meeting to consider the implications and benefits of conversion. Assistance with decision to convert.
  • Attendance at planning meeting to provide our 12 page conversion checklist that details every task that needs to be undertaken; to allocate those tasks to specific people at the law firm or at Armstrong Watson; and to set deadlines for those tasks to be completed.
  • Provision of a soft copy of the checklist, updated by Armstrong Watson on a monthly basis with accompanying notes of tasks that are required to be completed in the following month.
  • The following are usually carried out, but are subject to the allocation of tasks in the planning meeting.
  • Provision of the SRA application forms for the company to become a recognised body, with suggestions on how to complete the forms.
  • Creation of the LLP.
  • Review of the SRA forms prior to submission to the SRA.
  • Preparation, or review, of integrated financial forecasts and business plan prior to submission to the SRA.
Contact our Legal Sector Partner, Andy Poole, on 07828 857830 or andy.poole@armstrongwatson.co.uk to discuss how we can help you.

  Read more about the benefits of appointing Armstrong Watson

What is it?

A managed service to convert law firms to LLPs

Who is it for?

Sole practitioners or partnerships of all sizes in all locations.

What are the benefits for your firm?

  1. You will reduce your exposure to risk
  2. You will retain business flexibility
  3. You will be compliant
  4. You will future proof your business and ease succession

What do I have to do?

Attend two hour assessment meeting, two hour planning meeting. Provide regular updates to Partners. Action points from the planning meeting.

What are the deliverables?

Conversion of your law firm to a Limited Liability Partnership (see the detailed process above).

What is the cost?

£875 plus VAT for initial assessment meeting. £995 plus VAT for planning meeting and provision of the incorporation checklist. Additional fees to be agreed in advance following the planning meeting.

How long will it take?

Six months.

Our experience

Armstrong Watson has experience of converting and setting up a number of law firms as LLPs in the past few years.

Your Key Contacts

Andy Poole

Legal Sector Partner

07828 857830

Email Andy

Rosy Rourke

Legal Sector Director

07557 951148

Email Rosy

Tom Blandford

Legal Sector Director

07793 621951

Email Tom

Get in touch

To find out more about how we can help you or your business, contact one of our Legal Sector Specialists above.

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Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is 15 Victoria Place, Carlisle, CA1 1EW where a list of members is kept. Armstrong Watson Accountants, Business & Financial Advisers is a trading style of Armstrong Watson LLP. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.

Armstrong Watson Audit Limited is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales No. 8800970. Registered office: 15 Victoria Place, Carlisle, CA1 1EW

Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales No. 7208672. Armstrong Watson Financial Planning & Wealth Management is a trading name of Armstrong Watson Financial Planning Limited. Registered Office: 15 Victoria Place, Carlisle, CA1 1EW