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Professional Practice
Introduction
The business and regulatory environment in which professional practices now have to operate requires particular skills and advice and Ashfords' well-established Professional Practices Group advises a range of professional firms including engineers, architects, medical and dental practices, lawyers, accountants, estate agents, opticians and surveyors.
Offering a range of business-led solutions tailor-made for the unique business structures of professional practices, we advise a wide range of professionals on issues ranging from management and succession to financing and property.
Our clients tell us that our experience and expertise allow apparently complex problems to be transformed into routine ones, that are more easily resolved.
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 advising professional partnerships.
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.
Work handled includes:
- Establishment of LLPs
- Establishment of Partnerships
- Establishment of Limited Companies
- Property advice
- Advice on taxation issues and employment issues
- Dispute Resolution – director, member, partner and shareholder disputes
Recent work undertaken includes:
- Incorporating LLPs
- Drafting and negotiating LLP Agreements
- Advising on the conversion of a partnership to an LLP
- Drafting Partnership Agreements for a wide range of partnerships
- Drafting deeds of retirement or supplemental deeds to reflect the changes as a result of partners leaving and joining practices
- Transferring freehold and leasehold interests as a result of partners leaving or joining a practice
- Advising on the re-financing of partnership loans as a result of a new partner joining the practice or as a result of a partner leaving the practice
- Advising on the implications of the changes in stamp duty as a result of The Finance Act 2004 which changed the rules on the taxation of purchasing a share in a partnership.
- Advising on the implications of the changes affecting GPs, PMS or GMS practices as a result of the new GP contract coming into force
- Advising on the employment contracts and policy documents for practice nurses, receptionists and other support staff in medical and dental practices
- Using a limited company to acquire property
- Using dispute resolution including mediation and arbitration to resolve partnership, LLP and shareholder disputes
- Advising on de-mergers
- Advising on the terms of restrictive covenants and their enforceability
What others say about us
"We were all very pleased with the work Ashfords undertook and are impressed with the service provided"
Exeter Orthodontic Practice, January 2006
