Furley Page Becomes A Limited Liability Partnership

12 June 2006

Furley Page Solicitors has become a Limited Liability Partnership (LLP) - in line with an increasing number of larger UK law firms opting for a more modern business structure.

LLPs - made possible by the Limited Liability Partnership Act 2000 following years of intensive lobbying within the professions – are similar to limited companies and exist separately from their members.

Peter Hawkes, senior partner with the firm, said: “This is an obvious move for Furley Page – a forward thinking firm which is constantly seeking ways to improve its operational structure to the benefit of its clients and its staff. It follows a rising trend among larger legal practices in the UK and United States where there is increasing exposure to high-value and higher risk work.

“On a day-to-day basis the business will remain identical. The current partners will be members – in effect the owners – of the LLP and, together with all ongoing client work, will transfer seamlessly to the new structure.”

LLPs are required to keep accounting records, prepare and deliver audited accounts to the registrar of companies, and submit an annual return in a similar manner to companies.

For further information contact Peter Hawkes on 01227 763939.
 

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