Legal Profession

Solicitors & Barristers

We are especially proud of our knowledge and experience within the legal sector. We understand the nature of the profession, the ethics and conduct rules involved. 

Dean Sullivan Accountants provide accountancy and business advisory services to a wide range of solicitors' practices across the North of England and Midlands. Many accountants simply don't have a grasp of the requirements governing the conduct of client and office accounts under the Solicitors Accounts Rules 2011 or related compliance issues imposed by the SRA Handbook.

Their ignorance can prove costly when things go wrong!

We are proud to have developed a specialist range of services for the legal industry including reconciliation reporting to COFA and advising and implementing Client Account administration in order to ensure compliance with SRA Accounts Rules.

Our specialist accounting, business advisory and tax services to legal firms include:

  • Preparation of statutory financial statements ensuring compliance with Solicitor Accounts Rules
  • Accountancy and technical support
  • Review of reconciliation reports and reconciliation statements
  • Personal tax services - specifically directed at partners and partnerships
  • LLP conversions or conversion to Limited company or partnerships
  • Strategic planning and management consultancy - to help you build a more profitable and efficient firm
  • Merger integration - streamline the process, create harmony and win support
  • Financial training and development to your finance team

In addition to the solicitors, we also specialise in the preparation of accounts and tax returns for barristers, licensed conveyancers and regulated claims management providers, who are subject to different accounting, taxation and regulatory requirements.

New Practices

We can advise and assist on a range of matters that you will need to address to apply for recognition to the Solicitors Regulation Authority, whether you are setting up as a sole practitioner, partnership or limited company:

  • Establishing the right framework and governance for your practice
  • Formation and registration of limited companies and LLP partnerships
  • Inward investment and ABS applications
  • Partnership Agreements, specialist Memorandum & Articles of Association
  • Service Contracts, Out-Sourcing Agreements and Contracts of Employment
  • Strategic planning documentation
  • Formulation of all Budgets and pre-requisite financial information
  • Accounting and financial management arrangements
  • Professional Indemnity Insurance
  • VAT registration
  • Applications for recognition from the SRA

 Established Practices

We routinely provide a wide menu of prospective services to the established practice, either from your offices or off-site at your preference:

  • Reports on/rectification of historic accounting irregularities
  • Outsourcing of postings/ movements on Accounts
  • Outsourcing of payroll and HMRC returns
  • Monthly reconciliation statements
  • Financial management reporting & variance analysis
  • Financial training & development
  • Profitability and performance analysis
  • Bonus & remuneration schemes
  • Strategic planning reviews
  • Taxation advice and HMRC/Companies House returns
  • VAT administration and completion or returns

With new clients we are happy to conduct, on a fixed fee basis, a preliminary review of accounting, financial and regulatory procedures, making recommendations on how to improve processes and systems, ensuring that they are kept fully up-to-date and compliant, prior to agreeing bespoke terms of retainer with you.

 Regulatory Compliance and Development

In partnership with our associated consultant, who has over twenty years experience, we can provide regulatory advice and guidance on a broad range of issues including arrangements under LASPO, complaints management, risk management and care and conduct procedures, COLP and COFA obligations and other matters under the Code.

We assist on applications for the Law Society's Lexcel Practice Management Standards and provide all necessary documentation.

We can provide advice and guidance with regard to SRA checks and enquiries, investigations and reports, and proceedings before the SDT.