Andy Poole interviews one of the legal sectors’ recognised leaders, Charles Layfield, a qualified solicitor who has worked in full-time leadership roles for almost 20 years operating as non-executive director, chairman or board advisor.
One of the biggest questions when you are looking to buy or sell a law firm is ‘what is it worth?’ Whether you are selling due to retirement or buying a firm to allow you to expand and grow, valuation is often the key point for consideration.
Selling your Law Firm will be one of the biggest decisions you ever make. Once you have reached that point you are moving into a new phase where the asset that produced your income may now be providing you with a lump sum of capital (or a series of lump sums).
Armstrong Watson works in partnership with the Law Society for the provision of accountancy services to law firms in England & Wales and has responded to a consultation on proposed changes to the Solicitors Regulation Authority Accounts Rules (SRAAR).
Legal Sector Partner Andy Poole and his team supported Bleasdale & Co by arranging and securing an acquisition of the business by Bendles Solicitors, another local law firm which covers similar areas of law.
Armstrong Watson has a great deal of experience in helping and advising prospective equity partners on the implications of such an appointment and whether or not to accept the offer.
We act for over 100 law firms throughout the UK each year. For all our compliance clients we supply a bespoke individual benchmarking report analysing the results of their individual firm as part of our standard added value service when discussing their annual accounts. Each year we summarise the results of these practices in our annual benchmarking review which can be read here.