Professional Practice
The business and regulatory environment in which professional practices have to operate requires particular skills and advice and Ashfords' well-established Professional Practices Group offers a range of business-led solutions, tailor-made for the unique business structures of professional practices. Our lawyers advise a wide range of professional firms including engineers, architects, medical and dental practices, lawyers, accountants, estate agents, opticians and surveyors on issues ranging from management and succession to financing and property.
Whether it is setting up a new partnership, admitting a new partner or negotiating the removal or retirement of a partner, resolving partnership disputes, or advising on property held by partners and linked finance arrangements, our Professional Practices Group has a proven track record. We also advise on the legal implications and steps necessary to convert professional partnerships to LLP (Limited Liability Partnership) status and on the establishment of LLPs.
- partnership agreements;
- the admission of new partners and the transfer of partnership shares;
- partnership disputes;
- retirements and dissolutions;
- incorporating LLPs and drafting LLP agreements;
- partnership property;
- financing;
- GPs contracts;
- advising on the procurement routes of premises for GPs, including GP or third party led development and LIFT (Local Improvement Finance Trusts);
- advising GPs on reimbursement of rent and costs for moving to new premises, developing or improving existing premises;
- construction contracts, disputes and advice;
- employment issues;
- competition law;
- taxation;
- dispute resolution; and
- professional negligence.
We provide Professional Practices across the country with legal advice relating to their business. By way of example a few of the practice areas are set out below:
- Property - advising General Medical Practitioners upon the property aspects of new surgeries and resource centres including leasehold and freehold acquisitions with conditions, options, warranties, leases and conditional agreements for lease, LIFT documentation Underlease Plus, funding documentation and issues relating to the reimbursement of rent, service agreements and GP contracts. We also advise PCT’s in connection with their property requirements and letting to GPs
- Conversion to an LLP - advising an accountancy firm with multiple offices on conversion to LLP status,
- Practice sales and purchases - the sale of an opticians practice and the the franchising of an opticians practice in a number of West Country towns.
- Contracts - advising a medical practice on the terms of a Service Level Agreement for providing medical services to the students at a University. Also advising on the terms of a lease for the premises where the medical services are to be provided at the University.
- Partnership changes - acting in the completion of a property transfer and loan refinance in respect of the introduction of a new partner to a medical practice. Advising on the changes required to the current partnership agreement to reflect the changes to the partnership required as a result of the new partner joining the practice. Also advising on the transfer of an interest in the freehold property to a new partner between both practices and also drafted a new property holding Partnership Agreement for the practices)
- Practice mergers - acting in the merger of two accountancy practices with particular reference to due diligence, the reconciliation of accounting differences and retirement and consultancy arrangements for a senior partner.
