Online Accountants for Consultant Solicitors

The legal landscape is changing. More and more legal professionals are moving away from the traditional partnership model to enjoy the freedom and flexibility of consultancy. However, becoming a solicitor working as a consultant brings a new set of challenges: you are no longer just a lawyer; you are a business owner.

We specialise in supporting legal consultants. Whether you are contracting through a 'fee-sharing' firm or running your own practice, we understand the specific financial needs of the legal sector. We take the administrative burden off your shoulders, ensuring you remain compliant while maximising your take-home pay.

Airbnb Tax Accountants

Our Consultant Solicitors Accountants Accreditations & Professional Memberships

We are proud to be associated with leading professional organizations in the accounting industry.

Compliance and Reporting

  • Annual Accounts Preparation and Submission: We prepare compliant year-end statutory accounts and file them with Companies House on time, every time.
  • Corporation Tax Return: We calculate your tax liability and prepare the CT600 return, ensuring you utilise all available reliefs.
  • Confirmation Statements: We handle the mandatory annual filing to keep your company on the Companies House register.
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Tax and Personal Finance

  • Self Assessment Tax Returns: Whether you are a sole trader or a company director taking dividends, we handle your personal tax return to ensure you aren't paying a penny more than necessary.
  • VAT Return Preparation and Submission: Understanding VAT on legal services and disbursements can be tricky. We manage your quarterly returns to ensure accuracy (Making Tax Digital compliant).
  • Tax Advice and Planning: We proactively review your income to suggest the most tax-efficient ways to draw money from your business (Salary vs Dividends).
Additional Considerations for Hosts

Business Admin and Set-Up

  • Limited Company Set-Up: If you are new to consultancy, we can form your company, register you for taxes, and set up your PAYE scheme.
  • Business Structure Advice: Not sure if you should be a sole trader or Limited Company? We analyse your projected fee income to recommend the best structure for you.
  • Payroll and Pension: We run your monthly payroll and handle Auto Enrolment Pension duties to keep you compliant with The Pensions Regulator.
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Mortgage and Income References

  • Accountants Reference and Certificates: One of the biggest struggles for consultant solicitors is proving income to lenders. We provide quick, accurate references and SA302 certifications to help you secure mortgages or rental agreements. 
Mortgage and Income References for Consultant Solicitors

Who We Help

  • Self-Employed Consultant Solicitors

    Receive expert guidance on Self Assessment and maximize tax savings by claiming all eligible expenses.

  • Limited Company Consultant Solicitors

    Efficiently incorporate your business to manage tax obligations and legal compliance. Trust us with Corporation Tax, Director's duties, and regulatory adherence.

Frequently Asked Questions

  • Should a consultant solicitor form a Limited Company?

    This depends on your level of fee income. Generally, if your profits exceed £50,000, a Limited Company may offer better tax planning opportunities through dividends. However, we always assess this on a case-by-case basis.
  • Do you understand the 'fee-sharing' model?

    Yes. We understand how fee-sharing firms operate. We know how to reconcile the 'net' payments you receive against your gross billings and handle the VAT implications correctly.

  • What expenses can I claim as a consultant solicitor?

    You can generally claim for costs wholly and exclusively necessary for your business. This includes your SRA practising certificate, professional indemnity insurance (if not covered by the umbrella firm), legal subscriptions, home office costs, and travel to client meetings.

Contact Our Expert Accountants for Your Legal Consultancy Business Today!

At Taxwise Accountancy, we specialize in assisting solicitors working as consultants with other solicitors firm. 

Let us handle your registration, compliance, and tax optimization, allowing you to focus on hosting confidently.

📞 Schedule a complimentary consultation today or reach out to us online to get started.

Specialist Accountants for Consultant Solicitors