Looking back and looking ahead
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In this article, Janet Taylor, SME of the Solicitors Community, reflects on a successful 2023 and outlines the Community plans for 2024.
Legal Sector News
Practical information on the latest thinking in the legal services sector.
Summary of the recent ICAEW Solicitors’ Conference
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Hopefully many of you reading this were able to join us for our recent annual solicitors’ conference, but for those of you that missed it, here is a brief rundown of what happened.
Operating as a limited company – a quick reminder
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In recent years, the number of law firms operating as a limited company has steadily increased. 10 years ago, 30% of all firms were limited companies but, by September 2023, that had increased to 55%.
AI Powered Leadership: The Future of Chartered Accountancy
In this article, Michelle Howard, a skilled leadership and marketing consultant with extensive experience advising and training professional sector firms, discusses how leaders should be prepared to embrace the introduction of Artificial Intelligence (AI) into the sector. She contends that leaders should think now about adopting a clear strategy and policy of implementation, recruit staff who will be able to deal with AI in the future and train existing staff to become creative leaders in the age of AI.
Are rising IT costs for law firms inevitable or entirely avoidable?
A guide for solicitors.
Millennials - Supporting the Next Generation
In this article, Michelle Howard, a skilled leadership and marketing consultant experienced in advising professional sector firms across the UK, considers the traits which define the generation of millennials. At our Solicitors Conference in September, Michelle will further share how we can adapt our professional workplace to support this generation to become our future leaders and help our businesses to prosper.
'Financial accounting' period v SRA reporting period
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Question: Do changes to financial accounting period ends impact on reporting periods under the SRA Accounts Rules?
Your Client Interest Policy – Is it fair?
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The Monetary Policy Committee (MPC) met recently and voted to increase the Bank of England bank rate for the 12th consecutive time. With the bank rate now standing at 4.5%, a level not seen since October 2008, this article addresses the question, what is a fair level of interest which should be passed on to clients holding deposit funds with their law firm?
Banking facilities: Updated warning notice and case studies (1 March 2023)
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The SRA have recently published updates to the warning notice and the case studies dealing with the prohibition on providing banking facilities.
How to avoid and prevent an SRA Investigation
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At the end of last month, myself, together with Andrew Blatt of Murdochs Law presented a webinar on ‘How to avoid an SRA investigation...and what to do if you have one’. Andrew is senior director at Murdochs Law Ltd and a regulatory and disciplinary solicitor.