London Accountant

Professional Services Accountants

Expert accounting for law firms, consultancies, and professional practices. We handle partnership structures, LLP accounting, and partner tax planning.

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Accounting for Professional Services

Professional services firms — from law practices and management consultancies to architectural firms and surveyors — have specific accounting needs that require specialist expertise. Partnership structures, work-in-progress valuation, lock-up management, and partner tax planning all demand an accountant who truly understands the sector. Our professional services team works with firms of all sizes across London, from sole practitioners to multi-partner LLPs.

How We Help

Partnership and LLP accounting and compliance
Partner tax planning and profit allocation
Work-in-progress (WIP) valuation and revenue recognition
Lock-up and debtor management
Salaried member rules for LLPs
Professional indemnity and regulatory compliance costs
Lateral hire financial planning
Merger and demerger structuring

Our Services for Professional Services

Partnership AccountsLLP CompliancePartner Tax PlanningWIP ManagementManagement AccountsPayroll

Frequently Asked Questions

What are the salaried member rules for LLPs?
HMRC's salaried member rules can reclassify LLP members as employees for tax purposes if they meet certain conditions (fixed remuneration, no significant influence, capital contribution below 25% of expected income). This triggers PAYE and NIC obligations. We review your LLP agreements and advise on compliant structuring.
How do you handle work-in-progress for professional firms?
We help you track and value WIP accurately using time recording data. For tax purposes, WIP can be valued at the lower of cost or net realisable value. For management accounts, we provide real-time WIP analysis so you can see unbilled work, utilisation rates, and expected billings.
Can you help with partnership profit-sharing arrangements?
Yes, we advise on all aspects of profit-sharing including fixed shares, lockstep arrangements, merit-based models, and hybrid approaches. We also handle the tax implications of changes to profit-sharing ratios and the retirement/joining of partners.

Professional Services Accountants in London

Based at 124 City Road, London EC1V 2NX, we serve professional services businesses across Central London, the City, Shoreditch, Islington, Camden, and all London boroughs. We also work with clients nationwide via our cloud-based systems.

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Professional Services Specialists

Book a free consultation with our professional services accounting specialists.

Book Free ConsultationCall 020 7946 0958

Other Industries

Technology & StartupsProperty & Real EstateConstructionHealthcareInterior DesignHospitality & FoodE-Commerce & RetailCreative Industries

Need a Professional Services Accountant?

Our industry specialists are ready to help. Book a free, no-obligation consultation today.

Book Free Consultation020 7946 0958