Home

Latest News

By Andy Poole

20th February 2025

How can law firms manage lock-up in 2025?

Effective management of lock-up is crucial to maintaining a law firm’s financial health. Over recent years there has been a steady increase in lock-up periods and so it is more important than ever that firms have strategies in place to improve their cash flow and maintain stability.

Read this post

By Huw Nicholls

22nd October 2024

How can law firms generate meaningful and useable management information?

The golden rule with most things in life, and management information being no exception, is that the quality of what you get out, is only ever as good as the quality you put in.

Read this post

By Armstrong Watson

7th October 2024

6 common SRA Accounts Rules breaches

The SRA Account Rules were revised in 2019 but there are some common breaches we see. Sadie Archibald, Legal Sector Audit Team Assistant Manager, looks at how these breaches can be managed internally. 

Read this post

By Becky Fraser

20th August 2024

Basis period reform – law firm partnerships and LLPs

The legal sector is set to be heavily affected by the basis period reform which impacts self-employed partners in both standard partnerships and LLPs. But what are the tax implications and what considerations will you need to make? 

Read this post
accounting_lawfirms

By Armstrong Watson

20th February 2024

7 common accounting issues for law firms and how to improve financial records

During the annual accountants processes to prepare financial statements, tax computations and returns for law firms, there a several accounting adjustments that tend to be most common. These adjustments are necessary to ensure the annual accounts produced are accurate and show the true financial performance of firm.

Read this post

By Armstrong Watson

2nd December 2023

Optimising partner capital and lock-up in professional firms

Partners of professional firms need to be thinking about lock-up management all the time, not just as they head for retirement. 

Read this post

By Graham Poles

11th November 2021

Tax reform for unincorporated businesses delayed

Businesses facing an increase in their tax bills next year can breathe a sigh of relief now that the Government has pushed back its plan to alter the basis period for one year.

Read this post

By Armstrong Watson

29th October 2021

Benefits of Electric Cars

Introducing electric cars into a business or organisation is no longer just about social responsibility.  There are a number of benefits to driving an electric car, including some serious financial incentives such as electric car benefit in kind.  There are also other considerations you need to make too.  The main points to consider are listed below.

 

Read this post

By Richard Andrew

28th July 2021

What are the proposed tax changes for the self-employed, sole traders and partnerships?

Unincorporated businesses could see significant changes to the way they are taxed following the launch of a consultation by the Government – which could lead to some facing higher tax bills than expected.

Read this post
Chess pieces

By Huw Nicholls

8th June 2020

Preparing Your Law Firm For Battle During Covid-19

We keep being told that Covid-19 is a “war” that the nation needs to win. You can decide for yourself if that is a metaphor stretch too far. Personally I’ll certainly agree with front line NHS staff being badged as heroes and when this is over I think we should give them all the medals and “ticker tape” parades we can think of.

Read this post

Enquiry Form

All content © 2020 Armstrong Watson. All Rights Reserved. Website by Simon Pighills.

Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU where a list of members is kept. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. Unless otherwise indicated, either expressly or by the context, we use the word “partner” to describe a member of Armstrong Watson LLP or an employee of Armstrong Watson LLP in their capacity as such.

Armstrong Watson Audit Limited is registered to carry out audit work in the UK by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales, number 8800970. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU. Armstrong Watson Audit is a trading style of Armstrong Watson Audit Limited.

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, number 7208672. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU. Armstrong Watson Financial Planning & Wealth Management is a trading style of Armstrong Watson Financial Planning Limited. Armstrong Watson Trustees Limited is a limited company registered in England and Wales, number 84495656. The registered office is James Watson House, Montgomery Way, Rosehill, Carlisle, CA1 2UU.

MyRetirement is a trading style of Armstrong Watson Financial Planning Limited.

Armstrong Watson is a trading style of Armstrong Watson LLP, Armstrong Watson Audit Limited and Armstrong Watson Financial Planning Limited.