March of the accountants, part 2: ICAEW announces first ABS licence

Print This Post

1 October 2014


Snyder: truly holistic suite of probate services

Top-20 firm Kingston Smith has become the first accountancy firm to be licensed as an alternative business structure (ABS) by the Institute of Chartered Accountants in England and Wales (ICAEW) to carry out probate work.

The ICAEW expects around 250 accountancy firms to become an ABS for this purpose, while individual accountants can also authorised to conduct reserved probate work.

Kingston Smith has offices in London and the South East with over 400 staff. Senior partner Sir Michael Snyder said: “We are delighted to be the first ICAEW accountancy firm to be licensed to offer a truly holistic suite of probate services to our clients.

“Taking away the need for outside parties to be involved in providing individuals with this sensitive, personalised service is something we know our clients will greatly value.

Vernon Soare, ICAEW executive director, said its role as a ABS licensing authority “will open up the marketplace for the consumer, who might want their accountant to handle legal services too. We also knew that members were keen to offer these services and having more providers should make the market more competitive”.

Chris Kenny, chief executive of the Legal Services Board added: “This is a welcome development and is a very important step on the road to more consumer choice, innovation and competition in the provision of legal services. I hope that this is the first of many probate licences issued as ICAEW commences its role as a regulator in the legal services sector.”

Tags: ,



Leave a comment

* Denotes required field

All comments will be moderated before posting. Please see our Terms and Conditions

Legal Futures Blog

Make your mark: Personal branding for barristers

stand out from the crowd

A recent Legal Futures article reported that the number complaints involving use of social media by barristers is increasing. The BSB have warned that “as social media and the internet become more prominent in our daily lives, there is an increasing need for barristers to be very careful about what they post whether in their professional or personal lives”. While inappropriate use of social media isn’t anything new, what struck me when reading that paragraph is that, for barristers, I would argue, there shouldn’t be a defining line between the personal and professional. As a barrister, you are your own USP, your personal brand is everything.

August 17th, 2017