As an LLP, we are well placed to advise on the financial, tax and business implications of LLP conversion. We have been involved as lead advisors on many conversions and have a tried and tested roadmap to help firms through the process. We also advise on the other options available to you, including alternative business structures.
This may take the form of a bespoke profitability review, Consideration of a practice’s gearing ratio or a broader benchmarking exercise. We are well placed to help you meaningfully compare your practice with others of a similar size.
We can give you an honest assessment of your practice, providing you with advice on your profit and loss projections, cash flow forecasts, balance sheets and return on investment, giving you peace of mind about the shape of your business model. We will always suggest practical recommendations to improve performance and reduce business risk. We can help you to regularly compare your achievements with your business plan and adjust your business methods or the plan, so that you know where you are going, how you are going to achieve it and when.
We advise on cash flow planning to ensure effective management of partner drawings and cash flow for the practice as a whole.
We can discuss the merits of performance-related pay, fixed equity shares and other ways of rewarding and retaining employees.
Our payroll services ensure that employees are paid on time every month. By outsourcing your payroll to Menzies, you remove the need to recruit, retain and train specialist staff or purchase specialist software, saving you money and reducing risk.
Menzies can provide you with leading edge advice and practical support when choosing the best accounting systems for your business. We have the capability to evaluate the systems you currently use and offer our recommendations for improvement. By doing this, we can work to ensure that your practice is functioning at its operational best.
By can advise you on business valuations, mergers, acquisitions and disposals we can help save you precious time and money finding and negotiating the right deal.
We advise on refinancing or restructuring loans and we prepare business cases to help you secure additional funds. Besides assisting you with the financial forecast we can advise on the most tax efficient manner for you to raise your share of the investment funds.
We can reduce the risk and cost of international commerce by understanding the tax issues, introducing you to reliable overseas advisers and implementing a plan that meets your goals and timescales.
We advise on the full range of exit options using sophisticated tax structures to help protect your wealth by assisting in the business valuation and the planning of your personal tax and investments.
We can help you enhance your personal wealth. This could include your share in the practice, personal investments, trusts, land and property.
We provide our clients with access to independent financial planning advice, including income protection, critical-illness cover, retirement planning, investment advice and savings plans.