SJ Berwin all square as February partner profits paid out late

SJ Berwin has paid out partners’ profit distributions in full after holding back February earnings due to a sizeable tax bill.

Partners were remunerated roughly a month and a half late, with the quarterly payouts coming in late March and early April. The next instalment is due for May.

An SJ Berwin spokesperson confirmed that the February distribution had now been paid, with the news coming after the firm explained the February delay as a result of a large tax bill at the end of January due to an increase in profitability (4 March 2013).

Ashurst also returned to paying its distributions in February after its final quarterly payout of 2012 was delayed following a half-year revenue drop (11 February 2013).

Field Fisher Waterhouse (FFW) last month joined the list of firms holding back profits by deferring its March special drawings.

Earlier this month SJ Berwin confirmed five promotions to its partnership, including two in London, with the quintet stepping up on 1 May. The number is static on 2011’s promotions count at the firm (19 April 2013).