Starting a new law firm

Armstrong Watson has vast experience in supporting individuals, or groups of individuals, to set up their own law firm practices.

We will help you decide if starting your own law firm is the right decision for you, and if you decide to proceed, we can manage the process from end-to-end, ensuring a smooth and seamless set-up.

We will provide and agree fee options for each stage of the process in advance of commencing any work for you.

Our costs do reflect value for money based upon our track record of delivering results, and ensure your law firm
is set-up correctly and compliantly from the outset.

We can support you with an initial video conference meeting to understand your plans to date, objectives and priorities. We will also provide our ‘new law firm start-up checklist’ which details all of the tasks that will require your consideration.

Initial discussions include:

Structure considerations
Understanding the SRA authorisation process
Compliance and risk advice/requirements
Financial considerations
Suggestions for introductions to key contacts and suppliers in the legal sector

Following the initial checklist meeting, we can also support you with the following:

Provision of the SRA application forms for the practice to become a recognised or licensed body, with suggestions
Guidance on how to complete the forms.
Creation of trading vehicle
Review of the SRA forms prior to submission
Preparation, or review, of integrated financial forecasts prior to submission to the SRA
Review of business and continuity plans prior to submission to the SRA
Registration for the appropriate taxes

Contact our Legal Sector Partner, Andy Poole, on 07828 857830 or andy.poole@armstrongwat son.co.uk to discuss how we can help you.

What is it?

A managed service to set-up a new law firm.

Who is it for?

Individuals, or groups of individuals, who are considering setting up their own law firm.

What are the benefits for you?

1. You will understand the risks before embarking on the process. 2. Reduce your exposure to those risks 3. You will be compliant from the outset. 4. Your law firm will be set-up effectively from the outset.

What do I have to do?

Attendance at the initial video conference meeting. Action points as agreed from the initial meeting.

What are the deliverables?

SRA recognition.

What is the cost?

£1,250 plus VAT and disbursements for initial assessment and planning meeting and provision of our checklist. The above is the fixed fee payable in advance cost option. Additional fees to be agreed in advance following the initial meeting. All services will be provided remotely via video conferencing, however, options are available for face to face if required.