Sector - Professional practices
Accountancy for professional practices
Your business is built on expertise and relationships. Ours is too. We bring clear, commercially focused accounting, tax and advisory support to help professional practices achieve their ambitions.
Who we work with
We work with professional practices across a range of specialist disciplines, including:
- Law firms
- Barrister Chambers
- Actuaries
- Patent attorneys
- Accountancy firms
- Surveyors
- Architects
- Independent Financial Advisors
Why Gravita
We understand professional practices
Professional practices operate differently from many other businesses, with people, partnerships and ownership structures at the centre of decision-making. Our teams understand those dynamics and the financial, tax and regulatory issues that come with them, so our support is grounded in how your firm actually operates.
Support for the firm and its partners
The needs of the business and its individual partners are often closely connected. We bring together expertise across audit, tax, advisory, outsourced finance and private client, helping firms manage both sides of that relationship and make decisions with a clear view of the wider impact.
Commercial thinking at every stage
Whether you are growing, admitting new partners, expanding internationally, restructuring or planning for succession, we focus on the commercial implications as well as the technical detail. Our aim is to give you clear, practical input that supports confident decision-making and the long-term ambitions of the firm. We help firms build the financial visibility needed to make informed decisions, from partner profitability and cashflow forecasting through to growth planning, acquisitions and succession strategies.
How we can support your firm
Professional practices face a particular mix of commercial, regulatory and financial challenges. Our specialists work with your finance team, and other relevant departments, as well as key partners and stakeholders, to provide support at every stage of your development.
Audit and financial reporting
- Statutory audit
- Financial reporting and assurance
- Accounts preparation
- Regulatory reporting and compliance
- Solicitors’ accounts rules
Business tax
- Partnership and LLP tax
- Corporate tax
- Business structuring
- VAT
- Remuneration planning
- Employment taxes
- Global mobility
- Tax planning around growth and realising exit values
Advisory
- Business strategy and future planning
- Business restructuring
- Transaction support
- Valuations
- Systems and procedure reviews
- Forensic accounting and reporting
Outsourced finance
- Outsourced finance function
- Management accounts and partner performance reporting
- WIP, debtors and lock-up management
- Cashflow forecasting and financial planning
- Payroll and employee benefits
- Finance systems, automation and technology
- Finance Director and CFO support
Private client
- Partnership and LLP tax returns
- Bespoke personal tax advice
- UK residence and international residency issues
We understand the challenges of running a professional practice
Professional practices are built around their people, often through partnership, LLP or hybrid structures involving corporate entities, which brings a distinct set of financial and commercial considerations. Managing profitability and cashflow sits alongside decisions around partner remuneration, recruitment and retention, ownership structures and succession. For growing firms, these issues can become more complex as new partners are admitted, teams expand and the business enters new markets.
There are also significant tax, reporting and regulatory requirements to manage, both for the firm and its individual partners. As firms grow, robust financial processes, reporting and forecasting become increasingly important, to help partners understand performance and plan confidently for the future. Changes to partnership or LLP structures, international expansion and evolving regulation can add further complexity. We understand how professional practices operate and provide clear, practical support that takes account of the business, its partners and its longer-term plans.
Supporting your firm and its future
Whether you are growing your firm, managing change or planning for the future, our team can help you address the financial, tax and commercial issues that matter most. Speak to us about how we can support your firm and its partners.
Our Team
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