These rules came into effect as mandatory on 6th December 2018. They affect you if you are regulated by the SRA and carry out work in the following practice areas: Services for the public: Domestic Conveyancing Probate Motoring Offences Employment Tribunal Work Immigration Services for Business: Debt Recovery up to £100,000 Employment Tribunal Work Licensing […]
I was working with a law firm a little while ago, helping it through some changes in it’s practice. The managing partner said to me “You know, were really just a collection of sole practitioners”. That summed up beautifully one of the business models have I come across many times when working with firms. I […]
From 6th April 2020 capital gains tax on the disposal of residential land is payable within 30 days of completion. Here’s a link to HMRC advice: https://www.gov.uk/government/news/get-ready-for-changes-to-capital-gains-tax-payment-for-uk-property-sales
Delighted to share that we have been informed that HCL has been awarded: "Best Law Firm Business Consultancy – Midlands" in the SME News Legal Awards 2020.
Please note – we are not tax accountants – BUT this is something that businesses, including larger law firms, need to be aware of. Get appropriate tax advice. IR35 – a bear trap for companies hiring external help. Basically, the Inland Revenue wants to ensure that the state is not being done out of taxes […]
I expect most of you have experienced poor management in your career. It can leave you feeling bewildered, undervalued & demotivated. I have and I’ve seen others close to me undergoing it as well. I’ve had the privilege of coaching some people through it until they come out to the other side. So why does […]
Today the 5th AML Directive comes into force. If you are a law firm we can help you update your AML policies & procedures. Here is a link to the guidance from the Law Society with a summary of the changes as well. https://www.lawsociety.org.uk/policy-campaigns/articles/anti-money-laundering-guidance/
Top Line minus Middle Line equals Bottom Line. In simplistic terms this is the equation for Profit. Top Line is the exciting stuff: new sales. Everyone loves a new sale. The risk arises when people focus on new sales alone. Of course, if you don’t get sales there is no business. Driving up turnover is […]
They said they would do this. Now they have. This week they have written to all firms caprtured by the 2017 Money Laundering Regulations requiring the COLP to sign a declaration confirming that your practice has a firm-wide money laundering risk assessment in place. The deadline for responding is 31 January 2020. Firms outside the […]
There seems to be a constant stream of compliance requirements that a busy practice owner or compliance officer needs to keep up with. That ontop of trying to win work, do the work, manage staff and spin all the other plates required! We recognise that and want to offer help. We have therefore developed a […]
