PracticeConsultingHeadstart: LLPs – A week in the life of Mark Lee, BDO Stoy Hayward.

Headstart: LLPs - A week in the life of Mark Lee, BDO Stoy Hayward.

Wednesday[QQ] Day started well as I received a formal invitation to tender for a potential client I have been targeting for some time.

Day finished well as I remembered to pull together a draft agenda for next week’s meeting of the professional practices marketing group. Circulated it by email for comment. Good mix of LLP and non-LLP related marketing activities are planned.

Thursday Received a letter from a lawyer thanking us for our LLP briefing note. Followed up the letter and secured an opportunity to brief key people in the law firm as regards LLPs, their uses and the effect of the anti-avoidance measures. Before leaving I ran a test scenario through the pre-release version of our LLP scorecard. Identified a few necessary tweaks and presentational changes and fed these back to development team.

Friday Called the FD at a client to chase an outstanding fee. He agreed to pay (hooray!). I suggested meeting with him and his managing partner to run through our LLP scorecard. Like many professional firms they have been keeping an eye on LLP developments but have not previously adopted a structured approach when considering all of the key issues. I hope the final version is available before the meeting next week.

Monday Met with three lawyers who are about to breakaway and establish a new niche practice. As this won’t happen until the summer I suggested they consider an LLP structure from the outset. Agreed to welcome delegates to the ICAEW’s tax faculty’s annual conference in Oxford next month. Delighted to learn that this will entitle me to a reserved parking space as last time I had to park half a mile away.

Tuesday Reviewed and updated my new work pipeline. Stronger than ever. Confirmed the details for a couple of talks on LLPs that I’m giving with lawyers. Dug out the brief biog used when I chaired the IBC conference on ‘Taxation of LLPs’ in January. Realise that it will need updating soon, but for now it’s fine.

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