Legal sector grows by 50% in the last decade
The gross value added (GVA) from UK legal services is estimated to have increased by 50% in the last decade. According to the newly published Economic Value report by the Law Society of England and Wales, the gross value added from UK legal sector was £34.2 billion in 2022 (£22.8 billion in 2013). The growth […]
Mental Capacity Month: BEST Foundation’s campaign highlights and key takeaways
As November concludes, BEST Foundation have wrapped up Mental Capacity Month, celebrating a successful campaign dedicated to sharing valuable insights, exploring the principles of the Mental Capacity Act 2005, and reflecting on how these principles shape interactions with clients of all ages. Throughout the month, the campaign fostered meaningful discussions and offered practical guidance, enabling […]
Government ‘must do more’ to reform mental health law
While the Mental Health Bill marks a positive step towards mental health reform, the government must support new legislation with more funding, more clarity and more safeguards, said the Law Society of England and Wales. Commenting on the Mental Health Bill, which had its second reading in parliament this week, Richard Atkinson, president of the […]
TikTok or TikNot? Should law firms invest in social media?
Newly released research suggests law firms are spending around a quarter of their marketing on social media advertising, despite nearly one in four partners dismissing it as a ‘waste of time.’ “TikTok or TikNot? Law firms in the social media age” is the 10th year legal marketing collective First4Lawyers have carried out its research into […]
IHT receipts £0.5bn higher than last year – HMRC
Inheritance Tax receipts for April 2024 to October 2024 are £5.0 billion, which is £0.5 billion higher than the same period last year, according to HM Revenue and Customs (HMRC). October’s receipts of £776m are two thirds higher than the same month in 2021 and annual receipts are set to smash through the £8bn level […]
Changes to Civil and Criminal Financial Eligibility Tests
New legislation has been laid to disregard certain compensation payments from the financial eligibility tests for civil and criminal legal aid. The legislation comes into force on Wednesday 20th November 2024 and affects applications for legal aid made on or after this date. Some individuals already in receipt of legal aid (and paying legal aid […]
Syder v Saladino & Ors: Myerson Solicitors secures £45k provision for estranged spouse in High Court inheritance case
Myerson Solicitors, a law firm based in Altrincham, Cheshire, has successfully acted for a Claimant in seeking reasonable financial provision from her estranged husband’s estate under the Inheritance (Provision for Family and Dependants) Act 1975. District Judge Philip Mantle, sitting in the High Court of Justice in the Business and Property Courts in Birmingham, delivered […]
Law Society hits back at client money consultation
The Law Society of England and Wales has hit back at the Solicitors Regulation Authority’s consultation on the future of law firms holding client. ‘Client money in legal services – safeguarding consumers and providing redress’ was published on Thursday 14th November 2024 to address what the SRA described a sharp rise in the ‘number and […]
Charity trustees highly recommend their role to others, new research shows
At a time when many charities carry trustee vacancies on their boards, trustees are overwhelmingly likely to recommend trusteeship to others. 8 in 10 trustees say they are likely or very likely to recommend the role. These early findings emerge from in-depth research into trusteeship, conducted as part of a collaborative project between the regulator […]
intelliflo and Estgro partner
intelliflo, cloud-based technology platform for financial advisers, has teamed up with Estgro to “revolutionise” how advisers handle generational wealth planning. This integration bridges the gap between financial and legal services, making estate planning and inheritance processes seamless for advisers, providers of legal services and their clients, they have stated. Designed to address the complexities of […]
SRA sounds warning on client account interest income
The Solicitors Regulation Authority (SRA) has sounded a warning to firms reliant on client account interest income with a consultation to be launched next week which may result in reform of accounts rules and changes to the compensation fund. SRA Chair Anna Bradley has indicated reform to tighten the rules on client account interest and […]
Law Society praises SRA’s efforts to address overrepresentation of ethnic minority solicitors in enforcement
The Law Society of England and Wales welcomes the Solicitors Regulation Authority’s (SRA) research into understanding the factors which led to an overrepresentation of Black, Asian and minority ethnic solicitors in their enforcement processes. The findings reveal that the issue is multifaceted and influenced by a range of factors including ethnicity, gender, age, entry route […]
Labour Budget will ‘deliver a generational shift in wealth’
Rachel Reeves’ Budget measures are likely to deliver an “extraordinary generational shift” in wealth, as the Bank of Mum and Dad start gifting their wealth earlier in order to avoid the amount their children inherit being shrunk by the new Inheritance Tax (IHT) rates. Russell Kaminski, partner with JMW Solicitors’ Private Client team, said that […]
Exizent Launches Bereavement Index 2024 – Chapter 2: Legal Professionals
Exizent has announced the release of Chapter 2 of the Bereavement Index 2024, focusing on the experiences, challenges, and perspectives of legal professionals managing probate and estate administration. The Bereavement Index, now in its fourth year, provides a comprehensive analysis of the bereavement landscape and highlights key areas where the legal profession can improve processes […]
Interview: How The Property (Digital Assets etc) Bill Will Transform Private Client Practice
The Property (Digital Assets etc) Bill is a groundbreaking piece of legislation introduced in the UK Parliament that aims to clarify the legal status of digital assets. It aims to, for the first time in British history, provide legal recognition and protection for digital assets, including cryptocurrencies, NFTs, and other forms of digital property, by […]
Local law firm holds Dementia Friends training event
Law firm, Gardner Leader, has gathered together 35 local professionals for an Alzheimer’s Society Dementia Friends training event to raise greater awareness on how the condition impacts people, both professionally and personally. One in three people born in the UK today will experience dementia at some point in their lives, according to a report by […]
CMA sends letter regarding breach of the Funeral Market Investigation Order 2021
The Competition and Markets Authority (CMA) has sent this letter to James Henry Funeral Services regarding its breach of the Funerals Market Investigation Order 2021 (‘the Order’). The Order was made under the market investigations provisions of the Enterprise Act 2002. The Competition and Markets Authority’s (CMA) funerals market investigation identified a number of concerns with the […]
IHT receipts for April 2024 to September 2024 £0.4bn higher than same period last year – HMRC
Inheritance tax receipts for April 2024 to September 2024 are £4.3 billion, which is £0.4 billion higher than the same period last year. In the last set of tax revenue statistics before the Budget, HM Revenue and Customs revealed that gross tax and NIC receipts for April 2024 to September 2024 are £406.3 billion, which […]
Law Society’s new AI strategy: The three I’s
The Law Society of England and Wales has announced its new artificial intelligence (AI) strategy based on three pillars: Innovation, Impact and Integrity. AI is already driving Innovation across the legal sector. At the core of the new strategy is Integrity to ensure AI is used in a responsible and ethical way. The Law Society’s […]
Law Society urges SRA to focus on its core role, as new report shows insight into perceptions of the regulator
The Solicitors Regulation Authority (SRA) has published findings from its corporate strategy benchmarking research, which examines key audiences’ perception of its performance, despite continued warnings from the Law Society of England and Wales to focus on its core role. The report has found that the existence of legal regulators enforces confidence and trust. However, low […]
