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By Armstrong Watson

30th April 2025

An interview with.... Martyn Kendrick, Lloyds Banking Group's UK Head of Legal and Professional Services

Andy Poole interviews Martyn Kendrick, UK Head of Legal and Professional Services at Lloyds Banking Group, to explore his thoughts on the current financial performance of law firms and partner capital funding.

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By Lindsey Cooper

5th April 2025

Antecedent transactions - what to be aware of if your law firm becomes insolvent

If a law firm is experiencing financial difficulties, and there is a possibility that it may have to enter into an insolvency process, it is vital to take professional advice from an insolvency practitioner as soon as possible. One specific area that will be covered by the insolvency practitioner is the concept of antecedent transactions.

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By Stephen Green

5th March 2025

6 things to look out for when undertaking financial due diligence on the acquisition of a law firm

While there may have been a time when financial due diligence was performed ‘in-house,’ it is now almost unheard of for a legal sector transaction not to have external financial due diligence. Here are 6 things to look out for when acquiring a law firm. 

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By Becky Fraser

5th March 2025

BlueCrest case highlights importance of LLPs’ compliance with Salaried Member Rules

A significant legal development has once again highlighted the need for Limited Liability Partnerships (LLPs) to carefully consider HMRC’s Salaried Member Rules.

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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.

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By Huw Nicholls

21st January 2025

SRA consultations – Armstrong Watson’s views on potential changes for client money, residual balances and interest

The SRA is consulting on proposed changes to the Accounts Rules that could limit the period a firm holds client money and potentially require all Accountants Reports to be submitted to the SRA. 

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By Brian Rudkin

15th January 2025

Law firm consultants: Employment status indicators and tax impacts

Determining whether a worker is employed or self-employed for tax purposes has long been a complex issue. The legal sector faces specific tax challenges and risks when engaging ex-partners and client-facing consultants.

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By Armstrong Watson

8th January 2025

An interview with… Gareth Milner, Managing Director of JM Glendinning Professional Risks

Andy Poole interviews Gareth Milner, Managing Director of JM Glendinning Professional Risks to explore his thoughts on the current PII market and the impacts of growing consolidation in the market.

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By Andy Poole

16th December 2024

Initial considerations for law firm closure, sale or merger

When closing down a law firm, due to a sale or merger, preparations will need to be considered for staff transition, closure notifications and post-closure operations. 

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By Armstrong Watson

9th December 2024

Law firm 2023/2024 benchmarking review provides encouraging insights

Legal Sector Manager Victoria Lovell looks at the key findings from our 2023/2024 law firm benchmarking review, including fee income averages, net profit, people and overheads. 

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