bto solicitors - Corporate & Commercial Business Lawyers Glasgow Edinburgh Scotland

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BTO Solicitors – the change to our business structure

Borthwick ,-Alan _With -Jacket -Large

Questions and Answers

Brechin Tindal Oatts Solicitors (trading as BTO Solicitors) is planning to convert to limited liability status from 1 April 2016. We have compiled this series of questions and answers about the change to our business structure which we hope you will find useful.

Alan Borthwick
Chairman

 

Q

What will the new structure be?

A

The business of Brechin Tindal Oatts Solicitors (BTO) will transfer to a limited liability partnership called BTO Solicitors LLP.

Q

What is an LLP?

A

A limited liability partnership (LLP) is a corporate body which provides limited liability for its members. It is subject to similar accounting and filing requirements as limited companies. As such, we will publish audited accounts and other statutory returns and run our business in the same way as many of our clients who operate as limited companies.

Q

Who will be the members?

A

All our existing partners in BTO will become members of BTO Solicitors LLP.
 
We will, however, continue to use the title “Partner” in our day to day dealings.

Q

Why is BTO converting to an LLP?

A

There are a number of reasons why changing our business structure makes sense for us.
 
Over the years professional services organisations have converted to LLP status because of the limited liability afforded to members. The added protection will help us to continue to attract the best people to our business. The level of protection provided by Professional Indemnity Insurance to our clients will remain unchanged. Our email and postal addresses are unchanged, as are our telephone numbers.

Q

How will the change affect me as an existing client?

A

As a client of BTO you should not expect to experience any difference in your day to day dealings with our firm. From and after 1 April 2016 the same individuals, as either members (partners) or employees, will continue to provide you with the same service but through BTO Solicitors LLP. We remain committed to providing you with an excellent service. The level of Professional Indemnity Insurance maintained by us will remain unchanged.
 

Q

Are there any steps in the conversion process that will involve me as a client?

A

There are some administrative arrangements that we need to make as part of the process :

  • If, as at 1 April 2016, any funds are held by BTO on your behalf in its client account will then be held on your behalf by BTO Solicitors LLP. This transfer will be conducted within the guidelines laid down by the Law Society of Scotland. If you have any queries on this process or wish to know of any balances we currently hold for you, then please contact Catriona Watson, by telephone (0141 221 8012) or e-mail (cwa@bto.co.uk);

  • If, as at 1 April 2016, any title deeds or other documents are held by BTO on your behalf BTO Solicitors LLP will continue to hold these for you;

  • In line with data protection regulations, BTO Solicitors LLP will, on 1 April 2016, become the data controller in respect of all personal data previously held by BTO. 

Q

Will I receive new Terms of Engagement letters?

A

If, as at 1 April 2016, BTO is engaged on an ongoing matter for you, you will receive a letter from us at that time confirming the transfer of the engagement to BTO Solicitors LLP.
 
If you instruct us after 1 April 2016, any letter of engagement will be with BTO Solicitors LLP.

Q

Will the change affect suppliers of goods and services?

A

As a supplier you should not expect to experience any difference in your day to day dealings with us but, as from 1 April 2016, BTO Solicitors LLP will take over any supply contracts previously entered by BTO.

Q

What new requirements will BTO Solicitors LLP be required to follow as regards publication of financial information?

A

We will be required to file an annual return and annual accounts with Companies House. The financial statements we make will be comparable to those of a limited company.

Q

What will happen to the existing partnership?

A

The partnership of Brechin Tindal Oatts will cease trading as at 1 April 2016. The partnership will remain responsible for all work performed by them before 1 April 2016 and will maintain appropriate insurance cover for their work.
 
BTO Solicitors LLP will complete the work and fulfil all obligations to you under existing engagements in accordance with your instructions.

Contact Information

For further information please get in touch with your usual BTO contact in the first instance.

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Contact BTO

Glasgow

  • 48 St. Vincent Street
  • Glasgow
  • G2 5HS
  • T:+44 (0)141 221 8012
  • F:+44 (0)141 221 7803

Edinburgh

  • One Edinburgh Quay
  • Edinburgh
  • EH3 9QG
  • T:+44 (0)131 222 2939
  • F:+44 (0)131 222 2949

Sectors

Services