Calls for solicitors and accountants to become more integrated within a business

Solicitors of have been challenged to work together more closely with accountants in order to help their businesses grow. Thinking outside the box and working together as the advisors will allow greater growth according to a construction specialist.

The rise of Alternative Business Structures (ABS) has forced solicitors to integrate with other types of professionals and form more cohesive one-stop-shop type services, but for those working in firms which are non-ABS, John Painter, managing director at CB Chartered Accountants, has said that integration is still possible.

He said: “Solicitors who want to become the first choice for property and construction clients need to think outside the box and be open to working collaboratively with accountants to move their own and their clients’ firms forward. It’s a win-win situation.

“It’s understandable that there is scepticism about closer liaison between solicitors and accountants, but we all need to think about whether we are order takers or true advisers… If our firms are to grow, it has to be the latter.”

Painter is a chair of the property and construction special interest group at the UK200Group (an association of independently owned law and accountancy firms). He added that as a client he wouldn’t expect a solicitor to know the intricacies of tax efficiency, but that it would be better if they knew to ask an accountant a question.