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By Pui-Guan Man | April 8, 2014
Eversheds is reviewing voting rights for its fixed-share partners after asking them to contribute 25% of their annual earnings to the firm.
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By Legal Week | February 24, 2014
Partners at limited liability partnership law firms will have to comply with one of three tests in order to satisfy the tax authorities they should not be treated as employees, new guidance shows.
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By Alex Newman | February 19, 2014
Hill Dickinson will ask its non-equity partners to invest 30% of their salary into the firm, ahead of changes to the tax rules for limited liability partnerships. The move is currently subject to a consultation, which kicked off a fortnight ago. Exact details of the plan will be presented to the partnership at the end of the month, with the firm hoping to raise the capital by 31 March.
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By Pui-Guan Man | February 10, 2014
Trowers & Hamlins is set to issue a cash call to its fixed-share partners in response to partnership taxation changes brought by HM Revenue & Customs (HMRC).
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By Pui-Guan Man | February 10, 2014
Norton Rose Fulbright reduced its net debt by £18.6m during the 2012-13 financial year, according to the firm's latest limited liability partnership (LLP) accounts. The report, filed with Companies House, showed that overall net debt dropped from £26.1m to £7.5m.
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By Anna Reynolds | February 7, 2014
Ashurst's highest paid earner took home £977,000 in 2012-3, down from over £1m in 2012, according to the firm's LLP accounts. The filings – which look at the financial year before the firm's merger with Australia's Blake Dawson - show that net funds dropped from £20.9m in 2012 to £6.9m at the end of 2013. Cash at the bank fell from £21.2m in 2012 to £7.2m.
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By Pui-Guan Man | February 5, 2014
Pinsent Masons' latest limited liability partnership (LLP) filing shows the firm spent £20.6m on its merger with Scottish firm McGrigors in 2012. The transaction incurred costs of £2.5m related "reorganising, restructuring and integrating the acquisition", according to the accounts filed with Companies House.
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By Anna Reynolds | February 4, 2014
DLA Piper's international partnership saw capital contributions by members more than double to £47.7m in 2012-13, according to its latest limited liability partnership (LLP) accounts. The accounts for DLA Piper International, cover the firm's operations outside the US, and reflect a move to an all-equity partnership from May 2012. They show capital contributions increased to nearly £48m compared with £22.4m the previous year, with the rise coming as equity partner numbers outside the US grew from 246 to 733 over the same period as a result of the all-equity move. The filings show the firm still had an average of 19 non-equity members working across the international business during 2013.
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By Pui-Guan Man | February 3, 2014
Legacy SJ Berwin's highest paid member took home £834,000 during 2012-13, according to the firm's latest limited liability partnership (LLP) filing.
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By Pui-Guan Man | January 30, 2014
Fee income at Taylor Wessing grew to £101.7m for the 2012-13 financial year, according to the firm's latest limited liability partnership (LLP) accounts. The accounts, filed with Companies House, show that fee income rose 4.4% against the previous year's equivalent, when the firm brought in £97.4m.
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