Sunak considers inheritance tax cut
Rishi Sunak is reportedly contemplating a reduction in inheritance tax as part of his strategy to win over voters and differentiate the Conservative Party from the leading Labour Party in the polls. These plans could potentially pave the way for the eventual elimination of the inheritance tax altogether, as reported by the Sunday Times. However, […]
Pension saving boost for millions receives Royal Assent
A Private Members’ Bill to help millions save more into their pension and start saving sooner has cleared Parliament and been granted Royal Assent. Millions of people, including low earners and younger workers, will be helped to save more into their pension and look after their financial futures as a Private Members’ Bill completed its […]
Digital transformation of LPA’s sparks concerns among lawyers
In a bid to streamline the application process for lasting powers of attorney (LPA), recent digitisation efforts are facing scrutiny from lawyers who warn of increased risks for vulnerable individuals and potential delays, as reported by The Times. The Powers of Attorney Act, which recently received royal assent, aims to make the system more accessible, […]
Pensions see £72.2bn in flexible withdrawals since April 2015 – HMRC
The total value of taxable payments withdrawn flexibly from pensions since April 2015 when the pension freedoms were introduced is £72.2 billion, according to HMRC’s annual update to private pensions statistics. There have been some increases in the value of payments withdrawn in the first two quarters of 2023. Between 1st January 2023 and 31st […]
Covid closures to probate offices ‘still causing delays’
Expert will dispute lawyers say delays in the issue of probate documents, which hit an all-time high in 2023, are causing more suffering for grieving people who are at serious risk of financial hardship. Figures shared in May this year showed that the average wait time for a Grant of Probate (on applications that are […]
Co-op Legal Services delivers ‘significant growth’
Co-op Legal Services has announced their year on year growth for the first half of 2023 with revenue up 41% to £31m (same period of 2022: £22.1m) and a 125% increase in underlying profits to £9m (H1 2022: £4m) Co-op Legal Services continued to lead the market for probate, taking on 22% more cases than […]
A 12-step guide to law firm competitor analysis
Keeping an eye on your law firm’s rivals: A 12-step guide to law firm competitor analysis Does your firm keep a beady eye on what competitors are doing? While some law firms aspire to be trailblazers, they do so with a blind eye to the strategies of their counterparts. Competitor analysis is the compass that […]
Key fund manager calls for significant increase in pension contributions
The UK’s largest fund manager has called for a significant increase in minimum pension contributions – doubling the current 8% of pay to 16%, according to reports. Stephen Bird, CEO of Abrdn (formerly Standard Life Aberdeen), argues that the existing contribution rates are insufficient to provide an adequate income in retirement for millions of people. […]
