Professional practices and LLPs

We provide a full service to clients, bringing together experts from our corporate M&A, employment, tax, private client, financial regulation and dispute resolution practice groups.

We provide a comprehensive service to a wide range of professional service firms, including accountants, law firms, private equity funds, hedge funds and other asset managers, architects, surveyors and other consultancies.

Our specialist expertise means that we understand all the key issues and can advise on a commercial and practical basis, while understanding the particular sensitivities of professional practices. 

Our professional practices team regularly advises on:

  • mergers and acquisitions of professional practices;
  • Alternative Business Structures (ABSs) in the legal services sector;
  • the use of LLPs as a business vehicle, including conversion of existing businesses to LLPs;
  • tax structuring and financing for professional practices;
  • establishing limited partnerships as fund vehicles and the partnership law implications of these structures;
  • disputes involving professional practices;
  • the use of LLPs, partnerships and other vehicles for personal financial planning;
  • compensation and remuneration structures, including carried-interest and co-investment provisions;
  • the degree of statutory employment protection enjoyed by LLP members;
  • the appointment and removal of team members; including associated leaver arrangements (contested or otherwise)
  • the protection of critical business assets and enforcement of restrictive covenants against leavers; and
  • the application of standard employment provisions such as family friendly rights in the LLP context.

What people are saying

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"They really work well as a team to ensure that all solutions are carefully considered."

Chambers UK 2022

"The lawyers are very client-focused, commercial and understand our market and industry."

Chambers UK 2022

"What impresses me about this firm is the quality and expertise of everyone you interact with. You always feel that the advice you are given is coming from someone who is an expert in a particular area, whether that is at partner level or more junior levels."

The UK Legal 500 2022

"Excellent lawyers with the ability to be strategic as well as detailed."

The UK Legal 500 2022

"Multidisciplinary group offering a full range of services to professional partnerships and LLPs, including advice on M&A, tax planning and regulatory issues. Active on cross-border transactions, and also handles a range of contentious issues including partner exits and misconduct allegations. Noted for its work with clients from the investment management sector, and also represents international law firms, private equity funds and professional services firms."

Chambers UK 2020

"They were very approachable and always available to assist us, often on very short notice’, one client says, adding: ‘They were clearly knowledgeable in the areas on which we required assistance, and were very commercial and proactive’."

Chambers UK 2020