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International Edition

Simmons top earner for 2012-13 pocketed £800k, accounts reveal

Simmons & Simmons' highest earner took home around £800,000 during 2012-13, an 11% decrease on last year's top figure of £900,000. The figure is contained within the firm's latest financial report, recently filed with Companies House, which also shows the firm brought in operating profit of £68.6m, up on £53.4m.
2 minute read

International Edition

Trowers profit figures tumbled by £10m in 2012-13, LLP accounts show

Trowers & Hamlins' operating profit fell by £10m during 2012-13 to £18.8m, according to accounts filed with Companies House. The firm's operating profit margins dropped from 36% to 24%, with the firm citing its move to new City headquarters at Bunhill Row as the main reason for the declining figure.
2 minute read

International Edition

Linklaters accounts show headcount drop while revenues dip 1%

The average number of members in Linklaters' LLP dropped 6% in 2012-13, while the number of practising lawyers fell 2% and business services staff and secretary headcount dipped 3%. Accounts filed at Companies House show that the average number of members at the magic circle firm fell by 19 over the year to 291, while lawyer headcount was cut from 2,341 to 2,290 over the year. Business support staff and secretaries now total 4,280, 113 down from the 2011-12 figure of 2,052.
2 minute read

International Edition

Macfarlanes accounts reveal top earner took home £1.4m

The top-earning partner at Macfarlanes took home 17% more in 2012-13 than in the previous year, according to the firm's limited liability partnership (LLP) accounts. The accounts, filed with Companies House, show that Macfarlanes' highest earner received just under £1.4m, compared with £1.2m in 2011-12.
2 minute read

International Edition

DWF accounts show pay for top earner rose by 30%

DWF's top earner took home £1.09m in the 2012-13 financial year, an increase of more than 30% on last year, according to limited liability partnership (LLP) accounts filed with Companies House. In 2011-12, the firm's highest earner pocketed £833,000.
2 minute read

International Edition

Hong Kong to give green light to LLP structures next year

Law firms practising in Hong Kong could be permitted to establish limited liability partnerships (LLPs) from next year under new rules being drawn up by the Law Society of Hong Kong. A law bringing local liability regulations in line with international frameworks is expected to come into force in the next 12 months after additional legislation is approved by Hong Kong's Legislative Council (Legco), the city's solicitor-general Frank Poon has indicated.
3 minute read

International Edition

A&O sees operating profits grow as firm unveils its LLP figures

Allen & Overy (A&O) has grown its operating profit by 2%, as the firm became the first of the UK's magic circle elite to release its limited liability partnership (LLP) accounts.
3 minute read

International Edition

Law firm use of service companies faces scrutiny in tax avoidance clampdown

The use of service companies by limited liability partnerships (LLPs) could be outlawed in the UK Government's latest clampdown on tax avoidance. Danny Alexander, chief secretary to the treasury, confirmed the move at the Liberal Democrats' annual conference this week, saying: "We will be closing the loophole that allows partners in partnerships to structure their staff arrangements so that they avoid the correct amount of income tax. It's wrong, it's unfair, and it's got to stop."
2 minute read

International Edition

Hill Dicks mulls removal of two-term managing partner limit as Jackson wins third vote

Hill Dickinson is considering whether to overhaul its partnership deed as managing partner Peter Jackson has been elected to serve a third term in office. Jackson (pictured), who succeeded David Wareing in the post in 2005, is due to begin his third four-year term in May 2014, despite the firm's limited liability partnership deed restricting incumbents to a maximum of two terms.
2 minute read

International Edition

Number crunching: UK top 30 LLP accounts revealed

Legal Week goes behind the headline figures for an in-depth look at the UK top 30's financial health
1 minute read

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