Legal Finance News
- Legal Regulatory and Compliance Newsletter
The Spring edition of our Legal Regulatory and Compliance Newsletter is now available.Legal Regulatory and Compliance Newsletter - read more
- Solicitors Accounts Rules 1998 Changes Published
The SRA have published the draft Solicitors' Accounts (Legal Services Act) Amendment Rules [2009] which are effective fr...Solicitors Accounts Rules 1998 Changes Published - read more
VAT for Solicitors
The starting point for dealing with how VAT applies to your Solicitors firm is an understanding of the basic operation of the VAT system within the United Kingdom including consideration of the various VAT schemes now available and HMRC's record keeping requirements.
Beyond that there are specific VAT issues which are likely to be of interest to those in the legal profession including the proper treatment of disbursements and other similar expenses for VAT purposes. In particular VAT problems are often faced by legal aid practitioners in receipt of regular payments from the Legal Services Commission.
Our courses dealing with VAT for Solicitors can give an overview of the above and provide detailed practical steps. Alternatively, for more tailored guidance our consultancy service can help resolve VAT issues or inspections.