New conveyancing accounting rules provide freedom to “innovate and grow”

The Council for Licensed Conveyancers (CLC) has proposed new rules on how licensed practices handle client money. The property law regulator said the changes form part of a drive to “reduce regulatory burdens and facilitate innovation” while “keeping client money

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Smallest of firms outperforming established practices, study reveals

The challenging legal landscape has given way to a rise in new and innovative start-up practices, a report has revealed. The finding, published as part of professional network MHA’s new 2019 Legal Benchmarking Report, indicates that firms must diversify and

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New conveyancing accounting rules offer law firms “freedom to innovate, compete and grow”

The Council for Licensed Conveyancers (CLC) has proposed new rules on how licensed practices handle client money. The specialist property law regulator said the changes form part of a drive to “reduce regulatory burdens and facilitate innovation” while “keeping client

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The new Solicitors Accounts Rules: what you need to know

The Solicitors Regulation Authority (SRA) has marked 25 November 2019 as the official date that the new accounting and regulatory standards for law firms will go live. The new regulations, which are set to simplify Solicitors Accounts Rules and offer

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Legal sector soars despite short-term uncertainties

Medium-sized law firms saw a year of solid growth in 2018, growing in both practice revenue and partner income. The figures form part of the Law Society’s Law Management Section (LMS) Financial Benchmarking Survey 2019, which is based on questionnaires

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Businesses still missing out on R&D Tax Credits

According to HM Revenue & Customs (HMRC), the majority of claims for research and development (R&D) tax credits are from small and medium-sized enterprises (SMEs), but many firms are still missing out on the benefits they bring. As HMRC explains,

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Gifts out of income and their benefits to beneficiaries

Giving away surplus income as a gift to family members is often promoted as an excellent way of planning for the future and as a way of reducing liabilities on a person’s estate. But how do the rules regarding gifts

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Trainee solicitors’ salaries on the rise for the first time in three years

A survey of more than 500 trainee solicitors has found that around 25 per cent are being paid below the Law Society’s recommended minimum wage. This is an improvement over the last three years, from 36 per cent in 2019,

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Legal sector sets out list of requirements for a ‘successful Brexit’

The legal sector has joined forces with other professional services providers to detail what it needs to continue providing a quality service in the UK after Brexit. The Law Society, which published the report in collaboration with other regulators and

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Trainee solicitors’ salaries on the rise for the first time in three years

A survey of over 500 trainee solicitors has found that around 25 per cent are being paid below the Law Society’s recommended minimum wage. This is an improvement over the last three years, from 38 per cent in 2018, 35

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