Expert Accountants for Solicitors & Law Firms
Accounting Built for Legal Professionals
Running a law firm in the UK comes with unique financial and regulatory demands. From SRA Accounts Rules compliance and client money reporting to partner tax planning and LLP structures, Reflex Accounting provides specialist accounting services built specifically for legal professionals.
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SPV & Ltd Company Tax
Clear structure advice, from single SPVs to multi-company portfolios.
ROI-Focused Accounting
Our clients save more than they pay us
Payroll, VAT & Corp. Tax
Complete compliance under one roof
Specialist Accounting Services for Law Firms
A comprehensive range of accounting, tax, and compliance services tailored to the unique requirements of UK solicitors and legal practices.
SRA Accounts Rules Reporting
We prepare and deliver compliant Accountant’s Reports to the SRA, ensuring your client money handling meets all regulatory requirements and avoiding penalties or qualification of reports.
Partnership & LLP Tax Returns
We handle all partnership and LLP tax returns including profit allocation, partner drawings, and the new basis period reforms and ensuring each partner pays the correct tax while minimising liability.
Personal Self-Assessment for Partners
We prepare and file self-assessment tax returns for equity partners and salaried members, claiming all available reliefs and ensuring personal tax affairs are accurate, timely, and fully optimised.
Annual Accounts & Financial Statements
We prepare year-end accounts for sole practitioners, partnerships, LLPs, and limited companies — providing clear financial statements that comply with all statutory obligations.
Payroll & Auto-Enrolment
We manage payroll for all your fee earners and support staff, handling RTI filings, PAYE calculations, pension auto-enrolment, and P60/P45 documentation, ensuring everything is submitted on time to HMRC.
Business Planning & Strategic Advice
Beyond compliance, we act as a strategic partner, advising on trading structure reviews, LLP conversions, succession planning, merger and acquisition due diligence, and profitability benchmarking.
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We work with a wide range of businesses on a national level and can give you the friendly and expert accounting advice you need.
Challenges We Help Solicitors Overcomes
SRA Compliance Pressure & Accounts Rules Risk
Solicitors operate under strict regulatory frameworks that change frequently. Our specialist team keeps your practice audit-ready at all times so you never face a surprise.
Complex Partner Tax & LLP Structuring
Equity partners, salaried members, and fixed-share partners all face different tax treatments. We ensure every partner’s affairs are structured correctly and reviewed annually.
Billing Recovery & Cash Flow Gaps
Law firms often face a mismatch between work done & cash collected particularly in Legal Aid matters. Our management accounts and cash flow reporting help you identify and resolve collection issues.
Rising Costs & Profitability Pressures
Increasing operational costs, particularly staff overheads, continue to put pressure on profitability across the legal sector. We provide detailed cost analysis and strategic profit improvement advice to help you control overheads & optimise performance.
Making Tax Digital & Software Transitions
HMRC’s Making Tax Digital requirements affect law firms just as any other business. Transitioning to compliant digital record-keeping can be disruptive. We set up and manage cloud accounting systems tailored for legal practices ensuring seamless MTD compliance
Why Solicitors Need a Specialist Accountant
Law firms are subject to a unique intersection of HMRC obligations and SRA regulatory requirements that most general accountants are simply not equipped to handle. Choosing a specialist means fewer risks, better tax outcomes, and an accountant who genuinely understands your world.
Our team is fully up to date with the SRA Accounts Rules, ensuring your firm remains compliant and avoids the reputational and financial damage of a qualified report or regulatory action. We also advise on profit allocation, partner drawings, salaried member tests, and the recent basis period reforms
Comprehensive Accounting & Financial Solutions
Expert accounting services tailored to meet your business needs
Audit & Assurance Services
Independent audits for compliance, risk management, and financial transparency.
Bookkeeping & Payroll Services
Accurate financial record-keeping and seamless payroll processing.
Tax & VAT Advisory Services
Proactive tax strategies to optimize savings and ensure compliance.
Financial Planning & Business Advisory
Strategic guidance to drive long-term profitability and growth.
FAQs
Does my law firm legally require an Accountant’s Report for the SRA?
If your firm has held or received client money at any point during an accounting period, you are required under the SRA Accounts Rules to obtain an Accountant’s Report within six months of your accounting period end.
How does the HMRC basis period reform affect our LLP partners?
From April 2024, LLP partners are taxed on profits arising in the tax year (April to April) rather than on their practice’s accounting year end. This can significantly increase tax liabilities for partners whose firm uses a non-standard accounting period. We help all our LLP clients understand the impact of these changes, manage cash flow for tax payments, and plan drawings schedules accordingly.
Should our firm convert from a partnership to an LLP?
An LLP provides partners with limited liability protection, a significant advantage for most law firms. We provide a detailed review of your current structure and model the financial and tax consequences of conversion.
Do solicitors need to charge VAT on their legal services?
Most legal services provided by solicitors are standard-rated for VAT purposes, meaning VAT must be charged if the firm is registered and turnover exceeds the registration threshold. We advise on VAT registration, partial exemption where applicable, and the specific rules around client interest following recent regulatory consultations.
How quickly can Reflex Accounting take over from our current accountant?
Switching accountants is straightforward and we manage the entire process on your behalf. Once you confirm your decision to move to Reflex Accounting, we contact your existing accountant to request all clearances and handover documentation. In most cases, we can have your firm fully onboarded within two to four weeks with minimal disruption to your practice.
Do I have to pay Capital Gains Tax (CGT) when I sell a rental property?
If your firm has held or received client money at any point during an accounting period, you are required under the SRA Accounts Rules to obtain an Accountant’s Report within six months of your accounting period end.
Can I find a property tax accountant near me who understands buy-to-let investing?
Yes. Reflex Accounting has local property accountants available to support landlords and buy-to-let investors across the UK. Our specialists understand rental income, wear and tear allowances, and property-specific tax deductions.
Should I use a Special Purpose Vehicle (SPV) for my properties?
Holding property in an SPV (Limited Company) is often more tax-efficient for higher-rate taxpayers. We can model the potential savings for your specific portfolio
I am a non-resident landlord. How is my tax handled?
If you live abroad, you must register with the Non-Resident Landlord Scheme (NRLS). We can handle this application so your letting agent doesn’t have to withhold 20% tax from your rent automatically.
How much tax can I save as a buy-to-let landlord with professional accounting support?
Most landlords overpay tax by £1,500–£3,500 annually by missing legitimate property deductions. Our professional buy-to-let accountants identify expenses you might overlook, optimise your tax structure, and advise on tax-efficient strategies such as incorporating your property business.
Struggling with Finances?
Let Reflex Accounting Handle It!
Focus on growing your business—not managing HMRC paperwork, audits & payroll
