Market monitor

Conveyancers have urged Chancellor Rishi Sunak not to extend the stamp duty holiday and instead focus on allowing those who have instructed a lawyer by a certain date to complete.

The whiplash reforms will come into force on 31 May, the spring bank holiday, it was confirmed yesterday, as the government finally published the new rules and a marginally increased tariff.

Firms of legal consultants are set for huge growth and will become the dominant business model in the consolidation of the high street and mid-market, a report has predicted.

The pandemic has not stopped activity in the law firm M&A market, with a series of different types of deals announced, as overall the number of law firms continues to drift downwards.

Helping clients cope with the repercussions of climate change could transform the legal profession, a Law Society report has predicted, as lawyers focus on “proactive risk management advice”.

The average conveyancing firm completed 21% fewer transactions last year, although the market did rebound strongly at the end of the year, with transaction volumes up 27% in just one month.

A large number of conveyancers are focused on growing their businesses this year, even though some have struggled to cope with the workload of a hot property market, research has found.

Direct access barristers can be looked down on, and ignored by legal directories, because they do not have “well-heeled” solicitors singing their praises, a leading family law specialist has argued.

Listed law firm Ince has launched what it describes as the first integrated legal advisory, business consultancy and technology offering for the maritime sector.

Cambridge and London law firm Taylor Vinters is taking an equity stake in online legal services business LawBite as they collaborate to provide SMEs with international advice.