Last 3 months headlines – Page 1685
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HMRC enforcement head announces crackdown on tax havens
Drafters of tax avoidance schemes face greater scrutiny over the coming months as HM Revenue & Customs moves to close loopholes and bolster its disclosure regime, according to the head of the Revenue’s anti-tax avoidance group. Chris Tailby, a barrister who has directed the Revenue’s anti-avoidance ...
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Auditors seek cap on insolvency liability
The ‘big four’ accountancy firms are to lobby the government to further limit their liability as auditors in the event of corporate collapse, despite lawyers’ concerns that client companies would be ill-advised to agree to such a step. A spokeswoman for the Institute of Chartered ...
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Acquisitions, property development and dimond shares
Power stakes: City firm Herbert Smith advised Chinese power producer Huaneng Power International on acquiring a 55% stake in YangLiuQing Co-generation and a 41% stake in Beijing Co-generation from Huaneng International Power Development Corporation. The stakes are worth RMB2.35bn (£237m) combined.
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Minister questions legal aid priorities at 60th anniversary debate
Legal aid has ‘failed the very people it was set up to protect’ the minister in charge, told a debate hosted by the Law Society this week to mark the 60th anniversary of the Legal Aid Act. In the discussion, chaired by the Guardian’s Polly Toynbee, ...
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Work out what pricing means or expect to go under
‘Most lawyers haven’t got a clue about pricing – no other industry in the world can do "cost-plus", and now neither can law firms. We’ve got to start training lawyers to estimate pricing.’
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Cash-strapped universities hold out begging bowl
British law students are in for a rough ride, it seems. The Financial Times reported yesterday that top universities are losing money at an astounding rate, pointing to huge deficits in the funding they receive from the government and the actual cost of education.
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More City firms wield the axe
Two big City firms have today announced another raft of redundancies, with a combined total of up to 50 lawyers and up to 115 support staff facing the axe. Berwin Leighton Paisner will cut up to 30 lawyers and up to 55 support staff, while CMS ...
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Land Registry overhauls registration procedure
The Land Registry is to apply a new ‘early completion’ practice from 3 August, to ensure that registration applications are completed as quickly as possible. The practice will apply to all situations where an application for a discharge of whole has been received with another ...
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Hunt to recommend pre-emptive role for the SRA
The review of legal regulation commissioned by the Law Society is likely to recommend that the Solicitors Regulation Authority carry out more pre-emptive and advisory visits to firms, especially those deemed to be ‘at risk’, its author has revealed. Lord Hunt of Wirral , the man ...
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Law Society complains over judge’s remarks on solicitor-advocates
The Law Society has made an official complaint over what it says were ‘inappropriate comments’ by a Crown court judge about the alleged incompetence of three solicitor-advocates. Chancery Lane has written to Mr Justice Calvert-Smith, the presiding judge of the south-eastern circuit, about remarks made by ...
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50% tax rise will raise £150M from City partners alone
Equity partners at the UK’s 10 biggest law firms will each pay on average £100,000 extra a year to help bail the government out of deficit, Gazette research suggests. Chancellor Alistair Darling’s new 50% income tax bracket, which comes in to force in April 2010, will raise £150m from City ...
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Solicitors and estate agents condemn missed opportunity from budget
Last week’s Budget was a missed opportunity to rescue the housing market and will have no impact on property buying and selling trends, according to the National Association of Estate Agents (NAEA). The association said that the chancellor had ignored proposals to abolish or reform ...
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MoJ delays implementation of new accident claims processing regime
The Ministry of Justice has conceded defeat over its timetable for introducing a new claims process for road traffic cases, as the Gazette predicted last week (see [2009] Gazette, 23 April, 3). A letter sent to stakeholders this week says it now hopes to have the ...
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Which? enters online wills market
Which? Legal Service is entering the wills market in a tie-up with law firm Blake Lapthorn. The service uses an online questionnaire which takes customers through 1,500 questions tailored to individual needs. Once the questionnaire is completed, a solicitor at ...
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Society survey will reveal salary inequalities
An in-depth investigation into solicitors’ salaries will reveal ‘significant inequalities’ between white members of the profession and those from black and minority ethnic (BME) groups. The warning came from Law Society president Paul Marsh (pictured) at the Minority Lawyers’ Conference at Chancery Lane on Saturday. ...
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SRA’s submission to Hunt review calls for clarity
The division between regulatory and representative functions of the Law Society is ‘inconsistent with the requirements of the Legal Services Act’ and ‘baffling to many consumers and solicitors’, the Solicitors Regulation Authority has told Lord Hunt’s regulation review. In its submission to the Law Society-commissioned ...
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Jackson commends German costs recovery model
Lord Justice Jackson (pictured) may consider a costs recovery system based upon the German model when he releases the preliminary findings of his 1,000 -page review into civil litigation costs early next month.
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New president sets out 10-step plan
The new president of the Association of Personal Injury Lawyers has hit out at insurance solicitors who, he says, fight the conditional fees ‘costs war’ from the ‘comfort zone of risk-free retainers’.
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Restraint orders under the Proceeds of Crime Act
It is estimated that organised crime costs the UK some £40bn a year. The Proceeds of Crime Act 2002 trailblazed some unprecedented powers of asset restraint and confiscation in an attempt to remove the profit and, ultimately, motivation for committing economic crime.