Alternative business structures

The wholly owned alternative business structure being launched next month by NAHL plc is likely take on around 30,000 claims a year by 2023 and generate about £25m in revenue, it has emerged.

Revenue and profits were down last year at NAHL plc, the company behind National Accident Helpline and owner of three alternative business structures, its annual results showed today.

Redde – the accident management group that owns two alternative business structures – saw nearly a quarter of its value wiped out on Friday after losing a major contract.

One alternative business structures combining conveyancing and mortgage advice, and other bringing together legal and corporate finance services are among a range of new licencees.

Almost two-thirds of solicitors active in the main consumer law areas expect their workload to increase over the next year – but there is looming pressure on fees, a survey has found.

Accident management group Redde plc – which owns NewLaw Solicitors – has seen profits from the law firm’s five alternative business structure joint ventures increase by nearly 150%.

Personal injury firms in Sheffield and Macclesfield have merged and created a new alternative business structure as they bid to ride out the upheaval of next year’s reforms.

Sheffield Hallam University has set up a standalone law firm so it can offer a law degree that incorporates mandatory work experience into every year of the course.

A multi-disciplinary construction business has become an alternative business structure, in part to reduce confusion among clients and also offer a one-stop shop.

A tax consultancy has set up an alternative business structure to create a “one-stop shop” for independent contractors seeking advice, saying ABSs had made the law more entrepreneurial.