News – Page 207
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NewsClifford Chance scheme falls foul of tax tribunal
A tax tribunal has ruled against a stamp duty land tax (SDLT) avoidance scheme on which magic circle firm Clifford Chance advised. In the first case to test a targeted anti-avoidance rule in the SDLT legislation, developer of the Chelsea Barracks site Project Blue Ltd now faces a £50m tax ...
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Lawyers shocked by money laundering claim
Lawyers have reacted with concern to an inter-governmental report apparently suggesting that complicity in money laundering and terrorist financing is rife in the legal sector. Money Laundering and Terrorist Financing Vulnerabilities of Legal Professionals, published by the Financial Action Task Force, a body set up by seven leading economies, presents ...
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Free trade legal impact ‘will be small’
Free trade talks opening today between the EU and US are likely to end with agreements to open legal services – but lawyers in England and Wales will notice little difference in practice. Ambitions for a free trade agreement were announced at the G8 summit in Northern Ireland last month. ...
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RTA claims plummet following fees cut
New RTA claims fell dramatically in the first month following the cut in solicitors’ fixed fees. Figures collected by Claims Portal Ltd show 53,895 claims notification forms opened during May. That was a fall of 31% from April and down almost 25% in comparison with the same month in 2012. ...
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PI firms warned off medical cases
Leading clinical negligence lawyers have warned of the risks arising from growing numbers of personal injury practitioners moving into their sector. Legal consultancy Zebra last week reported a tenfold increase in enquiries about setting up or expanding medical negligence cases since the beginning of the year. The majority of those ...
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School leavers offered apprenticeship
School leavers seeking a route into the profession are being offered a legal services apprenticeship in a partnership between the Chartered Institute of Legal Executives (CILEx) and Manchester Metropolitan University Law School. The scheme will provide legal services apprenticeships at more than a dozen regional firms including Pannone, Weightmans and ...
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Law Society alternative legal aid proposals
The Law Society last week published alternative proposals to the government’s Transforming Legal Aid plan, saying they would retain client choice, provide certainty and facilitate greater market efficiency. On contracting, the Society proposes: Rolling three-year contracts, awarded subject to an increasingly rigorous quality and capacity framework (QCF). Contracts will ...
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Clifford Chance partners take 9% hit in ‘disappointing’ year
Profit per equity partner (PEP) dropped by 9% to £1m at Clifford Chance in 'disappointing' 2012-13 financial results for the magic circle firm. Profits fell 6% to £404m, on a turnover drop of 2% to £1.271bn, figures released today show. Managing partner at Clifford Chance David Childs said the results ...
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Criminal bar chair backs Law Society’s stance on legal aid
The chairman of the Criminal Bar Association has called for unity in the profession and attempted to quell ‘disquiet’ over the Law Society’s decision to share with the Ministry of Justice its proposals for an alternative to price-competitive tendering (PCT). In his weekly online comment, Michael Turner QC said that ...
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Mystery surrounds legal training report
The Legal Education and Training Review (LETR) report remains under wraps as the profession’s regulators, now in possession of the completed document, continue to cite ‘commercial confidentiality’ for withholding its disclosure.
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SRA vigil as over 50 law firms fear collapse
The Solicitors Regulation Authority is continuing to supervise more than 50 firms at risk of financial collapse, after reporting a figure of 56 in March.
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Legal firms looking to outsource back-office work
Outsourcing providers say they are experiencing a wave of interest from law firms looking to transfer the employment of back-office staff.la
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Lexcel divide could help cut PII premiums
The Law Society is considering expanding its Lexcel practice management standard scheme by creating separate quality marks for sectors such as private practice and in-house.
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Tell clients to donate more in wills, charities group urges
A charities group has called on solicitors to remind clients to consider leaving money to good causes in their will, after a trial scheme increased legacies left by £1m.
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Quindell strikes pioneering claims deal with Honda UK
Listed personal injury consolidator Quindell is to offer accident management services to all UK Honda customers.
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Culture change needed at BSB, says super-regulator
The Bar Standards Board will encounter ‘significant challenges’ in emulating the Solicitors Regulation Authority
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Clients still failing to ‘shop around’
The Legal Services Board has called on regulators to provide clear information on provider performance
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LSA now better reflected in firms’ business plans
The proportion of firms that expect to change their business strategy in response to the Legal Services Act has more than doubled in the last three years
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Fixed fees in legal aid ruled unlawful – in New Zealand
The Court of Appeal in New Zealand has ruled that a planned legal aid shakeup to introduce fixed fees is unlawful.
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LSB relies on regulators to see off DBA ‘mis-selling’ fear
The Legal Services Board will not introduce specific guidance for damages-based agreements