At Lubbock Fine, we understand the unique challenges and opportunities that professional services firms face. With a rich heritage, our partner-led approach ensures that we provide tailored solutions to meet the specific needs of your business. Whatever your professions, our dedicated team offers comprehensive support across a range of services, including audit, tax, business advisory, and more.
Our deep sector knowledge and first-hand experience allow us to deliver insights and strategies that drive growth, improve profitability, and enhance operational efficiency. We pride ourselves on building long-term relationships with our clients, helping them navigate the complexities of their industries and achieve their business goals.
Explore how Lubbock Fine can support your professional practice and discover the difference our expertise can make.
We’ve acted as advisors and accountants to a broad range of professional services firms, including:
We know that it’s not just about accounts and tax returns. That’s why we advise on the full range of areas affecting your business, such as:
Audit, accounts and tax returns: We ensure your accounts and tax returns are accurate and compliant with current regulations, minimising risk and maximising efficiency.
Outsourcing: We can assist with your firm’s ongoing accounting requirements, such as management reporting, payroll, VAT returns and more.
Adherence to salaried member and mixed member anti-avoidance provisions: Our team helps you navigate and comply with anti-avoidance provisions, safeguarding your firm from potential penalties.
Partner tax planning: We help newly promoted partners navigate the transition from employment to self-employment and all the tax issues this brings with it, ensuring there are no shocks along the way, as well as ensuring long-standing partners manage their tax affairs appropriately.
Tax clinics: We offer tax clinics for all partners or staff to run through hot topics and identify key tax changes to be aware of. Together with our colleagues from LFWM , we can offer advice on pensions and investments
Structure efficiency (e.g., Limited Company vs LLP): We provide strategic advice on the most efficient business structures, considering legal, tax, and operational factors.
Status checks: We can carry out in depth reviews of consultancy agreements to ensure compliance in relation to off-payroll working rules.
Research and Development: We can carry out a review of eligible R&D expenditure and tax relief potentially obtainable (Companies only)
Cash flow management and forecasting: We provide expert guidance on managing and forecasting cash flow to ensure your firm maintains healthy liquidity and financial stability.
Basis Period Reform and tax acceleration: Our advisors assist with the implications of basis period reform and tax acceleration, helping you plan and manage your tax liabilities effectively.
Solicitors Regulation Authority (SRA) and Royal Institution of Chartered Surveyors (RICS): We offer specialised advice to ensure compliance with SRA and RICS regulations, protecting client money and maintaining trust.
Profit improvement: We identify opportunities for profit improvement, helping you enhance your firm’s financial performance and achieve sustainable growth.
Practice management and accounting systems migration and testing: Our team supports the migration and testing of practice management and accounting systems, ensuring seamless transitions and improved operational efficiency.
Property: We offer guidance on your property requirements, including leases, ownership structures, and ensuring refurbishments are structured well to ensure optimal tax efficiency.
Partner compensation and profit sharing arrangements: Our experts design and implement effective partner compensation and profit-sharing models that align with your firm’s objectives.
Succession planning and exit strategies, including management of IHT exposure: We assist in developing succession plans and exit strategies, managing capital gains tax (CGT) and inheritance tax (IHT) exposure to ensure smooth transitions.
Strategic advice for business leaders and partners: We provide strategic insights and guidance to help business leaders and partners navigate challenges and seize opportunities.
Capital funding plans: Our team helps structure capital funding plans that support your strategic objectives and growth initiatives.
Mergers and acquisitions: We recognise that professional services is an industry where private equity is becoming ever more preferent and we are able to guide you through these major transactions, from due diligence to integration and completion.
Employee Ownership Trusts (EOT): We can advise on the potential benefits of establishing an EOT and the tax implications for both the firm and the employees.
Key person insurance: We advise on key person insurance to protect your firm against the financial impact of losing key personnel.
Staff incentive and benefit plans: Our experts design staff incentive and benefit plans that attract, retain, and motivate top talent, aligning with your firm’s goals.
Pensions: We advise on the firm’s pension offering to staff as well as individual advice to partners.