Claim third SEISS grant now or miss out, self-employed solicitors warned

Self-employed solicitors have just weeks left to claim the third Self Employment Income Support Scheme (SEISS) grant, it has been warned. Commenting on the 29 January deadline, the Institute of Chartered Accountants in England and Wales (ICAEW) reminded lawyers that it is “not usually possible to make a late claim under the scheme”. Launched in […]

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Law firms still required to report tax planning arrangements under EU regulations, regulator confirms

Law firms are still required to report under DAC 6 (Directive 2018/822) until a permanent UK solution has been implemented, a legal regulator has said. The report comes after the Brexit transition period came to end on 01 January, leaving the UK free to impose its own tax disclosure and transparency rules. However, until the […]

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“More progress is needed” to improve competition in legal sector, CMA review concludes

“More progress is needed” to improve competition in the legal sector for consumers and small businesses, a major study has revealed. Led by the Competition and Markets Authority (CMA), the review follows up on price transparency rules which came into force across the profession in December 2018. Concluding that competition for individual consumers and small […]

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“Pay as you grow” initiative presents cash flow opportunity for solicitors

Recent changes to the Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS) could boost cash flow for solicitors, a regulator has said. The notice, published by the Law Society for England and Wales, comes after the Government announced the “pay as you grow” initiative. Under the changes, businesses have been given […]

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Renewed property market activity “welcome news for solicitors”

The Stamp Duty holiday has been welcomed by homebuyers and conveyancers alike following two months of renewed property market activity. Official figures, published by HM Treasury, show that residential property transactions bounced back in July and August, increasing by 14.5 per cent and 15.6 per cent, respectively. The figures will come as a welcome relief […]

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CMA to assess impact of price transparency rules in second major review

The Competition and Markets Authority (CMA) will assess whether price transparency rules introduced in 2018 have increased competition in the legal market, it has been revealed. The “three-month long” review will be the second major assessment of the legal services consumer market in as little as four years, following the first in 2016 which concluded […]

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