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By Sally Jones

27th November 2025

Bank interest and partial exemption – A new VAT risk for law firms?

Recent increases in interest rates have led many professional services firms to earn more interest on client funds held in deposit accounts. As bank interest may be treated as a VAT-exempt supply, law firms and other businesses with significant interest income should assess whether this additional income affects their ability to recover VAT on overhead costs under the partial exemption rules.

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By Huw Nicholls

28th October 2025

LLP partners face uncertainty amid speculation of Budget tax hike

There is increasing speculation that Rachel Reeves intends to impose a new charge on LLPs when her Budget is delivered on 26 November 2025. According to The Times, this would be slightly lower than the 15% rate of employers' National Insurance.

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By Huw Nicholls

23rd October 2025

The Law Society issues Practice Note on residual client balances 

The Law Society has published a practice note setting out the requirements and practical guidance for dealing with residual client balances. Here are the steps law firms can take to ensure compliance. 

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By Armstrong Watson

8th October 2025

How much is my law firm worth?

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.

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By Huw Nicholls

24th September 2025

New guidance on law firm obligations to protect client money should a bank collapse  

Earlier this year, The Law Society published a Practice Note on protection for client accounts. This is relevant for all solicitors who deal with client funds.  

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By Armstrong Watson

3rd September 2025

A guide to implementing EOS for law firm management and efficiency

Despite good intentions, many law firms struggle to manage their business effectively, as they lack an efficient management structure. The Entrepreneurial Operating System (EOS) can help embed consistent management and also ensures absolute accountability. 

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By Armstrong Watson

26th August 2025

Improving recruitment and retention of the best talent in legal firms

In the last five years, we have seen a significant shift in the ability of legal firms to recruit the best candidates. The Covid pandemic and Brexit changed a lot in terms of available candidates, but other shifts in generational priorities have also contributed to a very different playing field.

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By Armstrong Watson

14th August 2025

How can professional firms leverage client relationships to drive revenue growth?

Professional firms are fortunate in that they tend to have a bank of clients where, due to nature of the work undertaken, they’ve built a strong relationship, usually at a senior level. Assuming that all clients ‘belong’ to the firm rather any one individual fee-earner, then the possibilities for cross-selling and expanding services offers can be considerable.

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By James Fraser

11th August 2025

Is an Employee Ownership Trust right for your law firm

Succession planning remains one of the most critical decisions for owners of law firms, particularly those seeking to preserve their firm’s legacy, values, and workforce. As traditional exit routes face increasing tax burdens and external sale risks, Employee Ownership Trusts (EOTs) have emerged as a compelling alternative—offering a blend of financial efficiency, cultural continuity, and long-term stability.

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By Lindsey Cooper

2nd August 2025

Navigating and mitigating the financial risks for leaders of smaller UK law firms

Cash flow problems, financial difficulties, and business exit strategies are significant concerns for leaders of smaller law firms. Understanding the risks and knowing your options can help mitigate personal liability and ensure the best outcome for your firm, clients, and career.

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