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New Partner Support Package

Support for a new partner, moving from employee to business owner with a review of the business they're buying into and advice on how to manage their finances, tax, and new role in the organisation.

Congratulations – you’re being made up to Partner! (Here we’re talking about Equity Partner)

This is a big step. You are moving from being an employee, drawing a guaranteed wage, to being a self-employed entrepreneur. We know from experience that often people are not adequately prepared. We can help.

We can go through with you the financial implications in detail. We can even help you with analysing the offer of partnership. We can also talk through broader business aspects of working with your new business associates who co-own the firm.

What is written above applies to people gaining an ownership share in a law firm in other ways, for example being invited to become a share-owning director or a member of an LLP.

  • Tax Considerations: employed v self-employed
  • Partner Tax Reserves
  • Offer of Partnership – review of the firm’s finances + the overall business
  • Working within the Management Team
  • Managing Staff
  • Understanding Management Accounts

All information will be held confidentially. We anticipate that this will be a service provided direct to the aspiring/new partner, but it could be provided to them at the request of the firm. As professionals we would anyway hold anything confidential. We are fine with signing an NDA. Our Contract anyway contains a mutual confidentiality clause.

(Non-UK: we can assist but may not be able to give such detailed advice on tax.)

Charges: £200/hr + VAT

To find out more contact us on 07887 524507 or ingemar@hunningsconsultancy.co.uk

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