Professional Practices

RSM Tenon offers a full range of services to professional practices and their partners. We have an in-depth understanding of the types of demands and challenges faced by lawyers, chartered surveyors, architects, chartered accountants and management consultants.

We offer a reliable and proactive service to local firms through to international practices, which we serve by working with colleagues within the RSM International network.

Understanding your issues

Our team members have diverse backgrounds: from the large partnerships unit of HMRC special compliance office to in-house tax; from professional firm management to the forefront of evolving accounting regulations.

This collective experience will enable us to provide you with sound advice, balancing technical robustness with commercial pragmatism.

Serving you pro-actively

Our professional practices team work with specialists throughout the firm, considering how new developments can be applied. This allows us to provide you with up-to-the-minute, pro-active advice, from the latest changes in VAT to the implementation of risk management procedures.

Integrated international service

RSM Tenon is the UK member firm of RSM International, the 6th largest global accounting networks. We work closely with our professional practices colleagues across the globe, and have a track record of providing top class service to our international clients.

How RSM Tenon can help you:

Our services to professional practices include:

• Financial statements audit
• Tax compliance and planning, for the firm and its partners 
• Partners' financial and pensions planning 
• Tax structuring 
• Transfer pricing
• Remuneration planning and employee benefits 
• Risk management and internal audit
• Succession planning
• LLP conversion
• Merger, acquisition and due diligence advice

How we have helped?

Examples of advisory projects in which our dircetors and staff have been involved include:

• Turnaround management: working with a regional practice to re-structure its business and restore profitability, through measures including exit of under-performing practice areas and improved people management.
• Transatlantic merger: assisting a US client with financial due diligence on its UK partner, and in achieving a combination agreement that allowed for differences in accounting practice between the US and UK and for transfer of profit between the two jurisdictions.
• Structuring: advising on an LLP structure controlled by a public company, through which the client could raise public capital while maintaining tax efficiency. Also helping the client prepare for the change in environment from general partnership to quoted company.
• Succession planning: working with the founder members of a local firm on potential ways to admit new principals and realise value for the goodwill they had built up in the business.
• Partner tax planning: advising a retiring magic circle partner on the international tax treatment of his profit share and annuity, dealing with complex cross-border tax planning issues.
• Financial planning: generating significant cost-savings by reviewing the employee benefit arrangements of a national practice and improving staff recognition of the benefits provided.