With effect from Monday 1st June 2020, Tait Farrier Graham has converted to a Limited Liability Partnership registered in England and Wales with company number OC431272 and with the name ‘TAIT FARRIER GRAHAM LLP’ (“the LLP”). We shall continue to use ‘Tait Farrier Graham’ as our trading name.
As part of the conversion the traditional partnership of Tait Farrier Graham (“the Partnership”) transferred to the LLP, its business and assets and the LLP assumed certain liabilities and commitments of the Partnership. The transfer included client engagements, records and confidential or privileged information.
In practical terms it will be very much business as usual. The change will not affect the services we provide and the same team will continue to provide their services to you as before. We will continue to use the word ‘Partner’ to refer to a Member of the LLP.
Reasons for Change
An LLP structure is the preferred corporate structure for professional services firms and a very significant number of UK law firms have converted in recent years. We believe it is right for us to also convert to this structure, to provide the firm with a transparent and modern business platform for the future.
The LLP is authorised and regulated by the Solicitors Regulation Authority with SRA Number 669900.
Our change in status does not affect our professional indemnity insurance in any way, other than the LLP holds a higher level of cover than the partnership.
All money held by the Partnership on behalf of clients was transferred to the control of the LLP on Monday 1st June 2020.
New Terms of Business apply to all new work which the LLP is instructed to carry out, on or after 1st June 2020. Existing Terms of Business which have been agreed with the Partnership in relation to; our role, the services you have asked us to provide, the team working for you, costs and timescales (or any other terms which have not been superseded by the new terms) will continue to operate as set out in your original client care letter with the Partnership, but will now be under the terms of your contract with Tait Farrier Graham LLP. For the avoidance of doubt, all aspects of your relationship going forward are now with the LLP. New Terms of Business will issued in due course if you have not already received a copy.
If you do have any queries or questions concerning the above please do hesitate to speak to your usual contact.