The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Partnership structures have been at the forefront of the minds of many lawyers as we gear up for the year-end.
More than the usual amount of care is required this year - if firms have not already adopted the new accounting standards for revenue recognition, they must now do so.
Partners had also feared that additional tax bills, caused by a change in the way work in progress (WIP) is calculated, would have to be paid in a single year. However, Chancellor Gordon Brown abated such concerns when he trailed a relaxation of the rules in his pre-Budget statement late last year.
This Partnership Special Report examines these developments, as well as debating the enforcement of restrictive covenants in a limited-liability partnership (LLP).
It also looks at the impact of International Financial Reporting Standards on LLPs, which if adopted by larger firms mean a new accounting treatment of certain assets, costs, liabilities and revenues.