Taylor Mowbray LLP

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Contributions by Taylor Mowbray LLP

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Payment of interest—regulatory requirements 2011 [Archived]
Practice notes

This Practice Note explains the Solicitors Regulation Authority (SRA) Accounts Rules requirements (rules 22 to 25) regarding interest on monies held in a client account. It relates to the 2011 to November 2019 Accounts Rules regime.

SRA Accounts Rules: common problem areas—applying the rules 2011 [Archived]
Practice notes

This Practice Note looks at some of the more common problem areas in the detailed application of the Solicitors Regulation Authority (SRA) Accounts Rules 2011 which can result in misunderstandings and breaches.

SRA Accounts Rules: common problem areas—record keeping 2011 [Archived]
Practice notes

This practice note looks at some of the more common problems that arise in terms of the detailed record keeping requirements of the Solicitors Regulation Authority (SRA) Accounts Rules 2011.

Contributions by Taylor Mowbray LLP Experts

11

Benchmarking—what are normal measures of financial performance in a law firm?
Practice notes

This Practice Note provides information about different ways of measuring financial performance in a law firm. It also provides guidance on how to analyse and benchmark financial data to compare performance against previous years and competitors.

Cash flow and bank financing
Practice notes

This Practice Note provides an understanding of what might cause a law firm to fail and what the bank will be looking for if it is to continue to support the business with additional finance.

Dealing with fee pressure—creative fees and fee negotiation
Practice notes

This Practice Note provides an understanding of how to deal with the constant pressure from clients to discount fees. It discusses some creative fee arrangements and looks at how solicitors can learn to negotiate fees with more confidence.

Delivering client services more efficiently
Practice notes

This Practice Note explains why it is so important to improve the efficiency with which work is done and how this can be achieved without diluting quality.

How to read and understand the financial accounts of a law firm
Practice notes

This Practice Note provides information about how to read and understand the financial accounts of a law firm.

Monitoring your financial stability—looking out for the warning signs
Practice notes

This Practice Note looks at some of the most common causes of financial instability in law firms and suggests what needs to be done to ensure problems never develop into crises.

Options for law firm finance
Practice notes

This Practice Note provides guidance on why a law firm might need finance and the ways in which such finance might reasonably be obtained. It also considers how much debt is healthy and when it becomes excessive.

Predicting fee income and expenditure
Practice notes

This Practice Note sets out different methods for predicting your annual fee income and expenses.

Raising the financial awareness of your staff
Practice notes

This Practice Note considers how you might set about improving your staff’s financial awareness so they might be more inclined to, and more skilled at, ensuring you hit your financial targets.

The importance of good management information
Practice notes

This Practice Note provides an understanding of why management information (MI) is needed and how it should be formatted and distributed to achieve a change in behaviour of managers and improved financial performance.

The importance of good time recording
Practice notes

This Practice Note is intended for law firms. It explains why time recording is so important. It also explores best practice around time recording and considers the impact on write-offs if more time is captured.

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