Towards the end of 2021 the SRA announced that they were proposing an increase in fining powers from £2,000 to £25,000. In addition, the regulator announced the development of a new fast track system for ‘fixed penalties’ for low-level offenses. It was recently...
The LSB (Legal Services Board) has developed a new website called reshapinglegalservices.org.uk. The new website aims to present research and insight about the future of legal services from lawyers, regulators, tech experts and consumers. The idea behind the website...
What is Legal Data? Legal data is information classified as regarding law and is generated from multiple formats including time recording, knowledge banks, spreadsheets, legal documents, billing systems and more. This data is used in all areas of practice law. It is...
The government has published draft legislation outlining how they aim to change the current rules for taxing partners in cases where the partnership’s year-end does not fall on 31 March or 5 April. What changes are being proposed? Partners will be taxed on the...
The SRA is planning to create an internal independent team to monitor and evaluate the quality of the disciplinary policies and decisions the SRA has put in place. This proposed new team will work at a distance from SRA operations and will maintain and prepare quality...
The SRA Accounts Rules were last updated in November 2019 and are now more condensed with the focus shifting from prescriptive rules to principles-based regulation. The ICAEW’s Audit and Assurance Faculty have now released TECH 01/21 AAF which provides the latest...
This January, the Supreme Court ruled largely in favour of the Financial Conduct Authority (FCA) and businesses receiving payments from business interruption insurance policies. This verdict has been regarded as a huge win for businesses, with many suggesting that...
In December 2018 the Solicitors Regulation Authority (SRA) brought in the transparency rules. Firms were required to publish price and service information for particular services on their website. These rules were brought in by the SRA to ensure potential clients had...
Who would have thought that as we enter the final stretch of 2020 the UK is yet to agree on a trade deal with the EU? Even though a deal has not yet been agreed the Solicitors Regulation Authority (SRA) has confirmed that some changes will definitely happen no matter...
Towards the end of 2021 the SRA announced that they were proposing an increase in fining powers from £2,000 to £25,000. In addition, the regulator announced the development of a new fast track system for ‘fixed penalties’ for low-level offenses. It was recently...
The LSB (Legal Services Board) has developed a new website called reshapinglegalservices.org.uk. The new website aims to present research and insight about the future of legal services from lawyers, regulators, tech experts and consumers. The idea behind the website...
What is Legal Data? Legal data is information classified as regarding law and is generated from multiple formats including time recording, knowledge banks, spreadsheets, legal documents, billing systems and more. This data is used in all areas of practice law. It is...