Solicitors Sector Accountancy

Specialist accountants for solicitors, law firms and legal professionals

With over 30 years of experience supporting legal practices, we provide tailored accountancy, audit and advisory services designed specifically for solicitors and law firms. The legal sector faces unique regulatory, financial and operational demands — from strict compliance with the Solicitors Regulation Authority (SRA) Accounts Rules to managing client money, partner remuneration and fluctuating case-income streams.

About Us

Specialist Accountants for Legal Practices

Our deep understanding of the legal profession allows us to deliver precise, compliant and commercially focused support, helping firms strengthen governance, manage financial risk and operate with full confidence

SRA Accounts Rules Audits

Year-End Accounts & Tax Compliance

Management Accounts & Financial Monitoring

Client Money & Internal Controls Advisory

Payroll & Partner Remuneration Strategies

Digital Accounting & Bookkeeping Solutions

Business Structure & Incorporation Advice

Business Acquisitions, Sales & Mergers

Supporting Legal Practices
With Clarity and Compliance

From sole practitioners to multi-partner LLPs, we provide dependable accounting and audit expertise that supports SRA compliance, governance and long-term success. With specialist knowledge in SRA Accounts Rules audits and client money handling, we help you navigate the legal sector with confidence.

Maintaining Compliance

Stay fully compliant with all HMRC requirements

Reducing Liabilities

Strategic planning to minimise your tax burden

Protecting Long-Term Financial Wellbeing

Securing your financial future with expert guidance

Expert accounting for legal practices

Specialist SRA Accounts Rules audits, client money and legal practice accounting

0121 777 1200•info@rus.co.uk

1190A-1192 Stratford Road, Hall Green, Birmingham, B28 8AB

Why Legal Practices Choose Us

Over 30 Years Legal Sector Experience

Three decades supporting solicitors, law firms and legal practices with specialist accounting, audit and SRA compliance services tailored to the legal profession.

SRA Accounts Rules Audit Specialists

Deep expertise in SRA Accounts Rules audits, client money handling, regulatory compliance and helping legal practices maintain robust financial controls.

Regulatory Compliance & Risk Management Expertise

Clear guidance on SRA requirements, internal controls strengthening, breach identification and risk reduction to ensure full regulatory compliance.

Strategic Growth & Practice Development Support

Business structure advice, merger and acquisition support, succession planning and strategic insight for long-term firm development and expansion.

Client Testimonials

Hear from solicitors and law firms we support across the UK

Working with RUS Chartered Accountants has been an exceptional experience for our firm. Your team's expertise in accounting, tax planning and compliance has played a crucial role in the smooth setup and ongoing growth of our practice. We have always received prompt, clear and practical guidance, and your proactive approach has given us great confidence as we scale our operations. I would highly recommend RUS to any legal practice or business looking for reliable, knowledgeable and genuinely supportive accountants.

Brose Joseph

Solicitor

RUS has been our trusted accountant for over twelve years. Their understanding of SRA requirements and client money handling is exceptional. The annual SRA audit process is efficient, thorough and gives our partners complete confidence in our compliance.

Richard Thornton

Senior Partner

As a sole practitioner, I need an accountant who understands the unique challenges of running a small legal practice. RUS provides clear, practical advice on SRA compliance, client money and tax planning that gives me peace of mind.

James Mitchell

Sole Practitioner

Ready to ensure SRA compliance?

Over 30 years of legal sector accounting and SRA Accounts Rules audit expertise

0121 777 1200•info@rus.co.uk

1190A-1192 Stratford Road, Hall Green, Birmingham, B28 8AB

Legal Sector FAQs

Common questions about our solicitor and law firm accountancy services

An SRA Accounts Rules audit is a mandatory independent examination of how your law firm handles client money. The audit verifies compliance with the SRA Accounts Rules, which set out strict requirements for recording, handling and safeguarding client funds. The audit tests client account transactions, reviews internal controls, identifies any breaches or risks, and reports findings to the SRA. Most law firms holding client money must undergo an annual SRA audit. We specialise in conducting efficient, thorough SRA audits that strengthen your compliance and governance while minimising disruption to your practice.

The frequency of SRA Accounts Rules audits depends on your firm's circumstances. Most firms holding client money require an annual audit covering the accounting period (typically 12 months). However, firms may need more frequent audits if they have been subject to previous breaches, are newly authorised, or are undergoing SRA interventions. Additionally, you must obtain an audit within six months of your accounting period end. We advise on your specific audit requirements and ensure timely completion to maintain SRA compliance and avoid regulatory penalties.

Proper client money handling requires strict segregation between client accounts and office accounts. Client money must be held in designated client accounts at approved financial institutions, must be readily available for withdrawal, and must never be used for office expenses. You must maintain accurate client ledgers for each client matter, perform monthly reconciliations of client accounts, and ensure proper controls over transfers between client and office accounts. We advise on strengthening these controls, improving reconciliation processes, training staff on SRA requirements, and preparing for SRA inspections to reduce breach risks.

Partner drawings are interim payments made to partners during the financial year, typically on a monthly basis. These are advances against anticipated annual profit share. Partner remuneration refers to the final profit allocation determined at year-end based on the partnership agreement, firm performance and individual partner contributions. Drawings should be managed carefully to ensure partners don't withdraw more than their eventual profit share, and tax reserves must be maintained for self-assessment payments. We provide partner remuneration planning, drawings advice and tax reserve calculations to help partners manage cashflow and tax liabilities effectively.

Both LLPs and limited companies offer limited liability protection, but they have different tax and governance implications. LLPs are taxed as partnerships, with profits allocated to members who pay income tax and National Insurance personally, offering flexibility but higher NICs on profit share. Limited companies pay Corporation Tax on profits (currently 19-25%), with directors taking salary and dividends, potentially reducing overall tax burden. LLPs have simpler governance and are more traditional in the legal sector. We assess your firm's size, profitability, partner circumstances and growth plans to recommend the optimal structure and support any transition process.

Law practice transactions require careful consideration of goodwill valuation (often based on recurring fee income), work-in-progress and lock-up (unbilled time and debtors), client retention and transfer arrangements, regulatory approval from the SRA, staff employment transfers (TUPE), professional indemnity insurance run-off cover, and tax-efficient deal structuring (asset vs share purchase). We provide due diligence services to identify financial and regulatory risks, valuation support based on sector benchmarks, financial modelling for acquisition funding, and tax planning to minimise liabilities. Our experience ensures your transaction protects your interests and achieves the best outcome.

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