Law Firm structure review

Is your current structure holding your firm back?

The legal sector is evolving rapidly, and the traditional partnership model is no longer the default choice for modern, ambitious practices. As your firm grows, takes on new partners, or navigates shifting tax legislation, the structure that served you well five years ago may now be exposing you to unnecessary personal liability or inefficient taxation.

As the only accountancy firm working in partnership with the Law Society, Armstrong Watson provides authoritative, independent structure reviews. We help managing partners step back from the day-to-day running of the firm to answer a critical strategic question: Is our current legal entity fit for our future ambitions?

What our structure review covers

We conduct a comprehensive diagnostic check of your current operations, financial health, and long-term goals. As a founding partner of Law Firm Ambition, we look beyond basic compliance to assess:

• Risk and Liability: Evaluating the personal exposure of equity partners and advising on the protective benefits of Limited Liability Partnerships (LLPs) or Limited Companies.
• Tax Efficiency: Modelling your current tax burden against alternative structures, particularly focusing on how you extract profit, manage working capital, and handle Basis Period Reform.
• Succession Planning: Assessing whether your current structure allows retiring partners to extract their capital seamlessly while making equity affordable for the next generation of fee earners.
• External Investment: Identifying if your growth plans require external funding, which may necessitate a move to an Alternative Business Structure (ABS).