Latest news
LSB foresees increased turbulence in market as more firms enter, exit and merge
There is set to be increased turbulence in the legal market, with more new entrants, consolidation and the exit of those who cannot adapt, the strategy director of the Legal Services Board has predicted.
Tax man gives solicitors three months to come clean on undeclared income
HM Revenue & Customs (HMRC) has opened up a three-month window for solicitors to own up to income they have not declared, or face tougher penalties if they are caught dodging tax.
Riverview launches separate tech business as it targets in-house with software products
Riverview Law is setting up a separate business which will own and exploit the technology built by the alternative business structure over the last three years. The first move has been for Riverview itself to launch a range of software modules targeted at in-house legal teams.
Quindell calls in PwC to conduct review in bid to head off cash flow concerns
Alternative business structure Quindell has called in PwC to conduct an independent review of the business, with the issue of its cash flow a key focus, it announced this morning.
Revealed: Law Society did not seek advice on Sharia law before issuing controversial wills guidance
The Law Society did not consult any experts in Sharia law before issuing the controversial practice note on Sharia-compliant wills that it was forced to withdraw last month, it has emerged.
European Commission launches find-a-lawyer search engine – without England and Wales
The European Commission has launched today a new online find-a-lawyer search engine, enabling potential clients to find lawyers in 17 countries, including France, Germany, Spain, Italy and Scotland – but not England and Wales.
Duke Street puts further £13m into Parabis
Private equity company Duke Street Capital has invested a further £13m in Parabis Group in a show of long-term commitment to the top 50 firm. Duke Street was the first private equity investor in a solicitors’ firm.
Consumer panel: “remarkable innovation” in the market but is deregulation going too far?
The Legal Services Consumer Panel today expressed concerned that “the recent emphasis on deregulation… is being taken too far”, while also praising the innovation seen to date through alternative business structures.
BSB apologises for failing to review contractual terms and cab-rank rule
Vanessa Davies, director of the Bar Standards Board (BSB), has apologised “for any impression that may have been created that we do not take our regulatory obligations seriously” after the BSB failed to launch a review of the standard contractual terms and the cab rank rule.
Osborne’s tax changes take gloss off benefits of incorporating law firms
The tax benefits for law firms of incorporating have been reduced thanks to surprise changes announced by the Chancellor in this week’s Autumn Statement. Law firms have been incorporating in large numbers, with tax advantages in both the initial transition and the ongoing practice.
Blog
Mazur: a symptom not a cause?
If Mazur is a symptom, what does it mean for the underlying health of our civil justice system: the ‘finest legal system in the world’?
Cross-generation collaboration: the key to in-house legal tech adoption
In-house legal function leaders will increasingly have to evolve their thinking on how to manage multigenerational teams containing differing levels of technological expertise.
AI and law firm risk – the view of professional indemnity insurers
In considering law firm applications for cover, many insurers will expect to see evidence of how firms are adapting to AI and preparing for the future.
