'Firms don't have enough net cash to pay their next payroll' – what are the warning signs for the UK top 50?

LLP accounts reveal operating profit margins slipping, staff costs rising and a limited cash safety net at many firms


The wealth of information in law firm limited liability partnership accounts offers an insight into the state of health of the UK’s largest law firms – as well as the warning signs they need to be looking out for.

In this video, Smith & Williamson head of professional practices Giles Murphy talks to Legal Week editor-in-chief Georgina Stanley about the key takeaways from the 2016-17 accounts of the UK top law firms, ahead of this year’s financial reporting season.