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130 Wood Street, London, EC2V 6DL
enquiries@buzzacott.co.uk    T +44 (0)20 7556 1200

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Professional Practices

We know what it takes to run a firm and make it prosper. Whether you’re solicitors, architects, surveyors, engineers or another type of service-based practice, you need to be adept at managing growth in good times and staying on an even keel when things turn rocky.

Specialist support for professional practices:

Our professional practices team are ready with answers on audit, financing, tax compliance and all the other issues you face. Talk to them and profit from our familiarity with your sector. You’ll save time, reduce risk and build a dependable relationship with a team who want your business to succeed just as much as you do.


Professional practices we work with:


We have extensive knowledge of the legal sector, working closely with many different legal firms of all sizes. We cater for all financial aspects of accounting, audit, VAT and tax returns, tax advice and payroll. We also have a high level of expertise in the SRA Accounts Rules, including the recent updates.


As well as assisting with the financial aspects of your business, we work with firms on their business strategy. This includes growth plans, budgeting, forecasting and cash flow management. In addition to this, our specialist R&D tax team can assist with your research and development tax claims. This is an important and ever growing area within the architecture industry and a talented R&D team is essential in preparing a robust application leading to a successful claim.

Surveyors and engineers

We advise on accounting, audit and tax planning for firms of various sizes. We also help firms with their KPIs, succession planning, business restructuring and tax planning. We also assist with the conversion between limited liability partnerships (LLP) and limited company, advising and implementing the best business structure for your firm.


Our services for professional practices

  • Structuring and set-up: discuss with us the pros and cons of LLP v. Limited Company and ensure the right fit for your business
  • A one-stop shop: find all your accounting, tax, VAT, payroll and HR requirements within one firm
  • Tax planning for partners
  • Succession planning: consider exit routes for founding owners and discuss with us how to incentivise the next generation of business leaders
  • Partner/capital structuring: talk to us about profit sharing, fixed share v. equity, forecasting cash flows and managing partners’ expectations
  • Solicitors Regulation Authority (SRA) reporting: find out how to keep your firm below the SRA’s radar by ensuring compliance and good governance; use our expertise to provide a robust defence if challenged
  • Employee ownership structures
  • Mergers, acquisitions and bolt-ons: talk to us about valuing your firm and how to carry out effective due diligence on potential mergers.
  • Internal audit services: we offer an outsourced or co-sourced arrangement to ensure a best practice approach to risk management is adopted and to drive continuous improvement. We’re able to provide insightful recommendations drawn from our extensive experience in the sector. We can also work with you to perform process reviews in response to client money frauds or breaches.
Professional practices bulletin

Professional practices bulletin - the latest in the professional practices sector

Missed our latest bulletin? Here is a recap of the most important updates, articles and news we shared recently.

Winter bulletin

Partnership planning: considering partner

We've launched our new series, 'Partnership planning', exploring considerations and challenges through the partnership lifecycle and how you can set yourself up for success at each stage. The first in the series highlights the benefits and risks to consider when considering becoming a partner at your firm. 

Small companies set to disclose more information

Under the new Economic Crime and Corporate Transparency Act 2023, all companies must include a profit and loss account disclosing their turnover, aggregate expenditure and profit. While a timetable is yet to be set for these changes to come into practice, it might be sensible to start preparing ahead of time.

Safeguarding your clients’ money

While the Solicitors Regulation Authority Accounts rules have been designed to protect client money, the responsibility still falls on law firms to implement the appropriate processes and procedures to protect client money and prevent fraud. Our recent article explains how to enhance your internal control environment.

Spring bulletin

Partnership planning: promotion to partner 

The second in our 'Partnership planning' series explores the considerations for senior associates and salaried partners looking at the move into self-employment in professional practices.

Find out what you should consider before taking the leap in our latest article.

SRA Account Rules - trends and changes for the legal sector

Claire Watkins was recently featured in a discussion bringing together various legal experts and independent members of our PrimeGlobal Association to reflect on the 2023 SRA Account Rules period, discussing the latest trends and reflections on the updates.

Thinking about changing your financial accounting software?

We are regularly asked for our recommendations on various financial accounting software, which can be a difficult question to answer when every business has different requirements. 

If you're thinking about changing your financial accounting software, we've outlined what you should consider in this article.

The new merged R&D scheme

A new R&D scheme has been introduced to simplify R&D tax credits. Under the new scheme, contractors are excluded from making a claim. This is likely to impact architects, engineering consultants, and technical consultants who are brought in to provide specialist skills on a project.

We are active members of many groups working to support professional practices:

Read some of our latest articles

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