Latest news
HMRC gives solicitors a week to ‘pay up or else’
HM Revenue & Customs has given solicitors a week to pay the tax they owe on undeclared income or “face hefty penalties” of 100% on the unpaid tax and the risk of a criminal investigation.
Express Solicitors buys 450 personal injury cases in pre-pack deal
Manchester-based Express Solicitors has bought 450 personal injury cases in pre-pack deal with a Cheshire sole practice. A spokesman for Express said Ashfields was now insolvent.
External investment the key to changing profession, former Law Society president says as firm becomes ABS
External investment rather than the number of alternative business structures is the key to changing the legal profession, a former president of the Law Society has said. Meanwhile, well-known ABS Knights has changed structure to retain more of its profit.
SRA mulls centralised assessment of would-be solicitors as City firm launches ‘earn as you learn’ qualification
The Solicitors Regulation Authority has begun work on developing a “centralised assessment of competence” that potential solicitors would have to pass to qualify, it has emerged. It comes as Mayer Brown became the first City law firm to unveil a six-year ‘articled apprenticeship’ programme.
Unique ABS aims to capitalise on push by Chinese companies to invest overseas
The Solicitors Regulation Authority has licensed a unique Chinese-owned alternative business structure targeting Chinese companies looking to invest abroad. It has been set up in association with Exeter-headquartered law firm Michelmores.
Number of personal injury CMCs falls below 1,000
The number of personal injury claims management companies (CMCs) has fallen below 1,000, it has emerged, down from 2,300 at the start of 2013. Smaller CMCs have been hit hard by ban on personal injury referral fees, the cuts in portal fees and ban on inducements.
New video platform is “missing link” for direct access barristers
A new video platform has been hailed as the “missing link” in improving the ability of direct access barristers to attract more clients. Virtual chambers ShenSmith has been trialling ODRO Vision.
Gateley set to raise £30m from AIM listing, as Slater & Gordon’s acquisition of Quindell completes
National law firm Gateley is looking to raise £30m from its imminent listing on AIM, documents filed at the London Stock Exchange today have revealed. The firm is due to list on 8 June with a market capitalisation of £100m.
Major US divorce firm lands in UK with ambitions to dominate the market
A family law practice that specialises in acting for men and has more than 100 offices across the US has opened in London with the prediction that it could “very quickly dominate the UK market”. It is already running radio advertisements announcing its arrival.
Linder Myers heading for profit a year after avoiding administration
Manchester-based Linder Myers is heading back into profit little more than a year after escaping administration, its chief executive has said. Tony Stockdale, chairman of consultants Assure Law, helped secure a refinancing deal with RBS in March 2014.
Blog
Amplifying reach through employee-driven thought leadership
Nine in 10 executives believe thought leadership is critical to building authority, yet only a quarter feel they have implemented a robust strategy.
Divorce escrow: asset sales before final settlement
When significant matrimonial assets are sold before a final financial order is agreed, holding the proceeds safely and neutrally can present real practical challenges.
AML lacks clarity – and standards are suffering
If firms are buckling under the pressure of AML regulations, subject to ever-increasing fines, then something is clearly not working as it should be.
