This section covers succession, specialisation, mergers, selling a law firm, becoming a partner, and business structure
How to set up your firm’s systems to provide the information that enables you to improve profitability and cashflow
How to avoid professional negligence claims, with examples of common problems and suggested solutions. Plus FAQs on PII
This is a new section and only covers SRA Accounts Rules and GDPR at the moment. More articles will follow
How to protect your law firm from cyber attacks. What steps to take if your systems are hacked
How to recruit and retain a team that is both happy and highly effective, dealing with the HR issues along the way
In marketing, like anything, you need to get the basics right. Otherwise the time and money you invest in marketing will be wasted
How to win new clients, make the most of existing relationships, encourage referrals and generate new leads
How to approach creating a law firm website that works, from agreeing your objectives to making sure you get the results you want
Why lawyers need to know about social media, how to make the most of the opportunities and how to avoid potential pitfalls
How to use PR to build your firm’s reputation; and how to create cost-effective advertising – traditional and online – that delivers results
Tom is a Legal Sector Director at accountants Armstrong Watson. He works alongside Andy Poole to lead the firm’s Yorkshire and Midlands services to the legal sector.
He works exclusively with law firms, including national and international clients.
Tom advises on law firm M&A, law firm valuations (for partnership disputes, taxation, or as an expert witness), law firm incorporation, tax structuring and the creation of law firm KPIs/bonus schemes/partnership remuneration strategies.
As well as helping firms to improve by providing benchmarking, strategic consultancy, merger assistance, structural reviews and training courses, Tom also oversees compliance accounting, tax and SAR services.
Big four trained, Tom has spent most of his career in the mid-market advising owners of businesses on how to achieve their strategic aims. In addition to being a chartered accountant, Tom is also a member of the Chartered Management Institute and brings those project management skills to ensure that audit, taxation or corporate finance projects are brought in on time and on budget.
Finally, he is a former Major in British Army Intelligence, where he led a variety of multinational teams at home and abroad in the collection, analysis and dissemination of battlefield data to senior military commanders. Whilst he finds that there is less call for body armour in advising law firms, the principles (of analysis, of confidentiality and of presenting complex information concisely) are the same for managing partners to make very significant decisions about the future of their firms as it is for Brigadiers.
Armstrong Watson provides accountancy services to law firms, working in partnership with the Law Society.
As a legal sector specialist, the firm does a lot more than just preparing your accounts, SRA Accounts Rules reports and tax returns. See their full list of legal sector services.
Top 30 UK accountants, Armstrong Watson has 17 offices and operates nationally.