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International Edition

Eversheds set to review voting rights for fixed-share partners

Eversheds is reviewing voting rights for its fixed-share partners after asking them to contribute 25% of their annual earnings to the firm.
2 minute read

International Edition

HMRC to press on with LLP tax changes

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.
2 minute read

International Edition

Hill Dicks asks salaried partners for capital investment ahead of LLP tax changes

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.
2 minute read

International Edition

Trowers seeks cash injection in light of HMRC partnership tax changes

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).
2 minute read

International Edition

Norton Rose Fulbright LLPs reveal 75% drop in net debt

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.
2 minute read

International Edition

Ashurst's top earner pocketed £977k in last full year pre-merger

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.
2 minute read

International Edition

LLP round-up: Pinsents spent £20m on merger, while other firms show net debt hikes

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.
4 minute read

International Edition

DLA Piper accounts show rise in capital contributions as net debt falls

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.
2 minute read

International Edition

Legacy SJB LLPs show pay for top earner dropped by 10% for 2012-13

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.
2 minute read

International Edition

Taylor Wessing posts 2012/13 fee income hike but profits hit as costs rise

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.
2 minute read

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