Displaying 1-30 of 33 results
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SOLICITORS COMMUNITY
Looking back and looking ahead
- Feb 2024
- Janet Taylor
- Solicitors Community Newsletter
In this article, Janet Taylor, SME of the Solicitors Community, reflects on a successful 2023 and outlines the Community plans for 2024.
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SOLICITORS COMMUNITY
Summary of the recent ICAEW Solicitors’ Conference
- Nov 2023
- Ian Johnson
- Solicitors Community Newsletter
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.
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SOLICITORS COMMUNITY
Operating as a limited company – a quick reminder
- Oct 2023
- Mike Ingmire
- Solicitors Community Newsletter
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%.
SOLICITORS COMMUNITY
AI Powered Leadership: The Future of Chartered Accountancy
- Sep 2023
- Michelle Howard
- Solicitors Community Newsletter
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.
SOLICITORS COMMUNITY
Are rising IT costs for law firms inevitable or entirely avoidable?
- Jul 2023
- Alex Hutchinson
- Solicitors Community Newsletter
A guide for solicitors.
SOLICITORS COMMUNITY
Millennials - Supporting the Next Generation
- Jun 2023
- Michelle Howard
- Solicitors Community Newsletter
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.
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SOLICITORS COMMUNITY
'Financial accounting' period v SRA reporting period
- Jun 2023
- Janet Taylor
- Solicitors Community Newsletter
Question: Do changes to financial accounting period ends impact on reporting periods under the SRA Accounts Rules?
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SOLICITORS COMMUNITY
Your Client Interest Policy – Is it fair?
- Jun 2023
- Paul McCluskey
- Solicitors Community Newsletter
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?
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SOLICITORS COMMUNITY
Banking facilities: Updated warning notice and case studies (1 March 2023)
- Apr 2023
- Janet Taylor
- Solicitors Community Newsletter
The SRA have recently published updates to the warning notice and the case studies dealing with the prohibition on providing banking facilities.
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SOLICITORS COMMUNITY
How to avoid and prevent an SRA Investigation
- Mar 2023
- Robert Blech
- Solicitors Community Newsletter
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.
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Basis period reform: How to deal with estimated figures
- Mar 2023
- ICAEW
The fiscal year basis of taxation, applying from 2024/25, could mean unincorporated businesses that are unable to have an accounting date that matches the tax year will have to use estimated figures in their tax returns. How will this work and what are the penalty implications?
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SOLICITORS COMMUNITY
SRA Accounts Rules – upcoming changes?
- Nov 2022
- Janet Taylor
- Solicitors Community Newsletter
While no full formal review of the relatively new SRA Accounts Rules is underway (a review five years after implementation is planned) the SRA are due to consult on some proposed updates over the next few months.
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SOLICITORS COMMUNITY
Recruiting and retaining the new generation of talent
- Nov 2022
- Michelle Howard
In this article, Michelle Howard, a skilled consultant experienced in engaging and advising professional sector firms across the UK explores ways in which you can recruit and retain the new generation of talent using your brand.
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SOLICITORS COMMUNITY
Cost increases create fresh challenges for legal firms
- Nov 2022
- Iceberg
- Solicitors Community Newsletter
Last month’s vote by Criminal Bar Association members to end its long-standing strike ended a period of uncertainty, but its conclusion has created a new set of financial challenges for the legal sector.
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SOLICITORS COMMUNITY
The impact for law firms of rising interest rates
- Sep 2022
- Robert Blech
Few of us can escape the cost-of-living crisis which is having an impact on almost all areas from fuel to basic shopping prices. The climb in inflation, which is at a 30 year high, will affect business as well as us individually. Under monetary policy, the Bank of England has adopted regular incremental increases in interest rates, which at the time of writing sit at 1.75%. Such rises may be passed on to all businesses that are borrowing, including law firms, but there is also the issue of legal practices accounting for interest under Rule 7 of the SRA Solicitors Accounts Rules.
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SOLICITORS COMMUNITY
Cash is reality when it comes to law firm success
- Jul 2022
- Mike Stevenson
Managing cashflow in this new financial reality.
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SOLICITORS COMMUNITY
What is all the fuss about cash and lock up in law firms?
- Dec 2021
- Dan Holmes, Senior Manager, PwC
Law firms have reported strong financial performance over the last 12-18 months in respect of both revenue and profits. Further challenges posed by Brexit aside, the sector is well placed to keep up this momentum in the medium term.
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SOLICITORS COMMUNITY
How will the economic crime levy affect your firm?
- Nov 2021
- Ross Prince
- Solicitors Community Newsletter
What you need to know.
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SOLICITORS COMMUNITY
Banking Services – The Law Firm FD’s and Their Advisors’ Opportunities
- Nov 2021
- Richard Wyatt FCA, Consultant, Baskerville Drummond Consulting Ltd
Law Firms may well be missing opportunities with their routine banking processes and could be slicker and make more money by looking at what is now available.
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SOLICITORS COMMUNITY
Are your client bank account reconciliations fully compliant?
- Sep 2021
- Jason Mitchell, Partner, PKF Francis Clark
In this article we provide a guide into the client funds reconciliation process to assist practices and their finance teams.
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SOLICITORS COMMUNITY
Changes in preference and the impact on law firms
- Mar 2021
- Richard Wyatt, Baskerville Drummond Consulting Ltd
Many things seem to have slipped under the radar during the pandemic. One of those is the changes to preference legislation that took place from 1 December 2020.
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SOLICITORS COMMUNITY
A change for the better?
- Mar 2021
- Karen Hine, RSM UK
In the current environment, where cash is king, being able to plan tax cashflows is vital. Even better, if firms can take action that may actually help to mitigate tax cashflows or bring forward relief to assist, while the worst of the economic impact takes effect.
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SOLICITORS COMMUNITY
SRA Accounts Rules – Written policies and procedures – worth a revisit
- Feb 2021
- Janet Taylor FCA, Director, PKF Francis Clark
Way back in October 2019, in what now seems like a very different world, we looked at whether or not firms were ready for the implementation of the new rules on the 25th of November that year. Since that article was published, we have of course had further guidance from the SRA.
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SOLICITORS COMMUNITY
Law Firm reporting: have we lost our way?
- Dec 2020
- Richard Wyatt FCA
The apparently poor quality of the reporting and especially the brevity, of the published information has been frustrating.
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SOLICITORS COMMUNITY
An update on the withdrawal of residual client balances
- Oct 2020
- Robert Blech, MHA Macintyre Hudson
The SRA consider residual balances significant enough to include within the 13 Solicitors Accounts Rules 2019 which came into force late last year. This emphasises the importance that is placed on this area of compliance.
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SOLICITORS COMMUNITY
New SRA guidance for law firms: Taking money for your firm's costs
- Oct 2020
- Ian Johnson, Saffery Champness
On 14 September, the SRA released something new into their pool of guidance, warning notices and Coronavirus compliance support Q&As that now make up a significant portion of their website.
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COFAs - Stay alert and take a stand against cybercrime
- Jun 2020
- Solicitors Community
The term "stay alert" is something we have all become accustomed to in recent months as we continue through the implications of the current pandemic.
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SOLICITORS COMMUNITY
The future of legal services in England and Wales
- Mar 2020
- Andrew Adler
- Solicitors Community Newsletter
Reflections on Westminster Legal Policy Forum guidance
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Accountants have a role in protecting solicitors’ client money
- Feb 2020
- ICAEW
The Solicitors Regulation Authority (SRA)’s Accounts Rules provide critical protections for clients of UK solicitors, setting principles on how their money should be safeguarded while held on their behalf.
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Updated ICAEW Technical Release - Guidance for Reporting Accountants
- Feb 2020
- Solicitors Community
ICAEW have now published the updated guidance to Reporting Accountants following the implementation of the new Accounts Rules in November 2019.
Displaying 1-30 of 33 results
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