I recently heard about a long-established six-partner general practice firm with a multi-million pound turnover and four or five dedicated tax staff. None of the general practice partners want to manage the tax team and there is no senior tax manager or tax partner responsible for leading and managing the tax team.
Various problems were outlined to me. I was shocked but on reflection unsurprised that this still goes on. Indeed I fear this is an all-too common scenario in many general practice firms. I say this because of the feedback I received when I wrote about it on LinkedIn.
In this article I have referenced the memories this story triggered of my involvement many years ago in a similar firm.
I have also then set out the significant challenges and risks to general practice firms that do not address the underlying issues. And finally...
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