Solicitor Accounting

World class accounting from award winning chartered accountants you can trust

Accounting For Solicitors

Like most other industries out there, Solicitor firms face many general, day-to-day financial tasks – like filing their tax returns and balancing their books. But, unlike other industries, they have their own set of rules and regulations to follow when it comes to accounting.

The Solicitor Accounts Rules [SAR] were put in place to ensure that every firm’s clients’ money is properly protected. From the distribution of electronic statements, to the prohibition of banking facilities – there’s a rule to cover everything.

After a recent rewrite of said rules, it’s important – now more than ever – that an experienced, chartered accountant takes care of your finances. Failure to comply with the rules could result in solicitors being suspended – or worse, struck off.

We Have Open Minds

Recent changes in how solicitors can practice has also thrown a spanner in the works, again resulting in the desperate need for an accountant. Just last month, the Solicitors Regulation Authority [SRA] announced that solicitors can now give advice on a freelance basis. They can operate from home, with no need to join a firm.

This may sound ideal at first – but it opens the legal industry up to a whole new wave of problems. For example, these new set of solicitors will have to apply for professional indemnity insurance, but the rest of their cover is pretty lax. What their insurance covers may be difficult to understand, and even more difficult to explain to clients (which they will have to do.) At Nordens, we’re already aware of the changes in regulations for solicitors, and can easily explain them to you.

Legal Accounting With Nordens

The legal industry is one of the most competitive out there – with solicitor firms searching high and low for ways to differentiate themselves from their competition. Apart from a change in price, one of the major ways these firms try and set them themselves apart is with their fee structures. Here at Nordens, we’ve had a decent amount of experience with each format, and are more than equipped to advise you with which one is right for you. We also provide help with business funding, tax service and so much more.

We Think Long Term

We Understand Solicitors

We understand that, unlike other sectors, the deadlines for solicitor accounting are extremely tight. The SRA requires that all accounts need to be audited within 6 months of their year-end. Missing that deadline is detrimental to your position as a lawyer. We give you the peace of mind you need, by ensuring all audits are completed long before their due date. We also treat the rest of your finances, no matter their importance, with the same urgency – preventing your already stressful job from escalating.

Our Legal Sector Experience

You aren’t the first solicitor we’ve worked with, and you won’t be the last. The team here at Nordens actually have decades of experience between us and plenty of industry know-how. From the old, standard legal firms to the brand new freelance solicitors – we’ve worked with them all. We’re more than equipped to deal with any issue you face, or just generally look after with your accounts.

We See Opportunity

Legal Sector Focused Accounting

From

£

+VAT per month

Complete accountancy and bookkeeping services for solicitors

Your proactive team includes your own dedicated accountant and bookkeeper to ensure your business is running smoothly.

Payroll for directors and employees

Dedicated accountant and bookkeeper

Incredibly Fast response times

Voted as EXCELLENT – 9.9 out of 10 based on 164 reviews

Chris Dyer
Director – Metro Bank

Nordens are always very easy to deal with and extremely professional and efficient. I would have no hesitation in recommending them to my clients for their accountancy needs, no matter how complex they may be.

Simon Cushing
Founder – Vivid Finishes

We have used Nordens for the last 5 years and have had a great service throughout. The guys are very passionate about what they do and have played a part in the growth of our company, highly recommended.

Christopher Wilce
Founder – Dataphone

Having worked with Nordens over the last 5 years, not only to look after my annual accounts but they have also provided outstanding professional advice. They have guided me through a Company share buyback with clear and objective advice.

Legal Sector Business Services

At Nordens, we’re proud to say that we’re equipped to deal with every aspect of accounting – no matter how complex. Why not explore our extensive catalogue of services below.

Employee
Payroll

Administrative duties could be tedious and time-consuming. Hence, we always recommend that time is spent doing other obligations in the business. While we are fully aware that prompt settlement of staff and other expenses related to their…

Bookkeeping Services

Every business, irrespective of the organisational structure, has to carry out bookkeeping functions. This is beyond recommendation as it is highly important. This is because, with adequate bookkeeping, a business firm will be able to keep…

VAT
Returns

Value Added Tax Returns are to be presented to HM Revenue and Customs (HMRC) every accounting period (precisely three months). Whether you have VAT to pay or not, you still need to do this. Contained in the VAT returns are…

Workplace
Pensions

No matter how long one may be in a company’s service, retirement will surely come. You will end up as a retiree who has to depend on a pension. Well, a workplace pension is a good way to start preparing for retirement. It will help…

Company
Tax Returns

Company Tax Returns are tax assessments levied on the profits made by a company. As a separate legal entity, every company is required by legislation to file for and pay company tax returns. Company tax returns are paid…

SEIS
Investments

The SEIS (Seed Enterprise Investment Scheme) was formed by HMRC in early 2012 with the aim of helping smaller start-up businesses to raise finances via investors. This is done by delivering a number of tax relief on investments, which aid the…