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Last hurdle before accountants can offer probate services: a two-day course

Passing a two-day course will enable accountants to start offering probate law services to the public, after the Institute of Chartered Accountants in England and Wales yesterday officially received the power to regulate probate and licence alternative business structures.

August 15th, 2014 | No Comments »

‘Accountants have £500,000 indemnity limit, so why can’t we?’ SRA asks LSB

The Solicitors Regulation Authority (SRA) has reminded the Legal Services Board (LSB) of its decision to allow accountancy firms wanting to carry out legal work to have minimum indemnity insurance cover of £500,000, in a bid to head off concerns about its move to reduce the level for solicitors.

July 18th, 2014 | No Comments »

Accountants able to handle probate work without solicitors from next month

Chartered accountants will be able to carry out reserved probate work themselves, without the need to instruct a solicitor, from next month, the Institute of Chartered Accountants in England and Wales (ICAEW) has said.

July 17th, 2014 | No Comments »

Grayling gives accountants ABS and probate green light

The Lord Chancellor yesterday approved the application by the Institute of Chartered Accountants in England and Wales (ICAEW) to become a regulator of probate services and licensing authority for alternative business structures.

March 7th, 2014 | 2 Comments »

Hires round-up: Competition Commission director joins LSB as Jordans makes first post-ABS hire

The focus of the Legal Services Board on competition in the legal market looks set to intensify after it appointed the inquiry director at the Competition Commission as its new strategy chief. It is one of several key appointments announced recently.

February 17th, 2014 | No Comments »

Slice of the action

Over the holidays, I came across the course notes for a course I attended in February 2102. It was called ‘Introduction to probate’ and was run under the auspices of the Institute of Chartered Accountants in England and Wales (ICAEW). Page 1 of the course notes, and, as I recall, about the first 20 minutes of the speaker’s talk, referred to the “many opportunities arising from these additional services”. That the opening up of probate to members of the ICAEW is regarded as a potential bonanza for the accountancy profession is not in doubt.

January 6th, 2014 | 2 Comments »

Here come the accountants and legal executives…

Competition in the law is to increase further after the Legal Services Board backed accountants to handle reserved probate work and set up alternative business structures, as well as chartered legal executives to set up their own conveyancing and probate practices.

December 11th, 2013 | 3 Comments »

Accountants hit back after Law Society protests over ABS regulator bid

The Institute of Chartered Accountants in England and Wales has hit back against Law Society objections to its application to become an alternative business structure regulator, claiming the public interest was “built into accountants’ DNA”.

June 27th, 2013 | No Comments »

Law Society set for confrontation with ICAEW over ABS application

The Law Society will challenge the application by the Institute of Chartered Accountants in England and Wales to become an alternative business structure regulator, Legal Futures can report. The question of separating regulation and representation is a key bone of contention.

February 26th, 2013 | 1 Comment »

Government closes door on accountants' last hope to change privilege rule

The government does not intend to extend legal professional privilege to non-lawyers, the Ministry of Justice confirmed yesterday after accountants urged Parliament to level the playing field for multi-disciplinary entities.

January 24th, 2013 | Comments Off on Government closes door on accountants' last hope to change privilege rule