Accounting & Tax for Advocates
Accounting & Tax for Advocates
Advocates run their own practice, with income that arrives in irregular fee notes and is often paid late. We keep your records in order, your tax paid correctly and on time, and your finances clear between briefs.
Challenges we solve
- Fee income that arrives unevenly and is often paid late
- Provisional tax payments that are hard to estimate
- Knowing which chambers, travel and practice costs you can claim
- Deciding whether and when to register for VAT
- Keeping fee notes, receipts and records ready for SARS
- Planning for retirement on an irregular income
How we help
Practice Bookkeeping & Fee Records
Clear records of fee notes issued, payments received and amounts still outstanding, with monthly management accounts.
Tax & Provisional Tax
Income tax returns and provisional tax worked out on your actual fee income, with planning so your tax bill is no surprise.
VAT & SARS Compliance
VAT registration and returns where they apply, and full SARS compliance for your practice.
Retirement & Personal Tax Planning
Planning around retirement annuity contributions and other allowable deductions, within the law.
Straight talk: Note: under the Legal Practice Act, advocates practise for their own account, so the company structures used by other professionals generally do not apply. Our planning focuses on how your income is taxed, what you can claim and how to manage your cash flow.
Specialist advice for Advocates
Book a consultation with a Chartered Accountant who understands your profession.