Three years of sustained growth in profits and income at law firms have now come to an end, according to accountancy firm MHA’s latest annual Legal Benchmarking Report. It reports that, in 2017, law firms of all sizes from sole trader practices to firms with more than 25 partners saw their income fall. Mid-tier firms—those with 11 to 25 partners—saw the largest reduction, with a drop of 11% from 2016. Karen Hain, MHA’s head of professional practices, said: ‘Our research paints a challenging picture for many firms. Efficiency needs to be a key theme for 2018 and beyond.’
18 May 2018
Growth trend comes to an end
MOVERS & SHAKERS
Gateley Legal—Jack Kelly
Gateley Legal expands Midlands residential development team
Gibson Dunn—Richard Surtees
Gibson Dunn adds employee benefits and executive compensation practice in London with partner Richard Surtees
Laytons ETL—Alec Cameron
Laytons ETL appoints new partner and head of intellectual property disputes
NEWS
A series of recent decisions has clarified important principles across property law, from perpetuities to lease renewals and public rights over land
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Andy Burnham's brand of 'Manchesterism' could offer fresh thinking on legal aid and access to justice if it reaches Westminster, according to Roger Smith, NLJ columnist and former director of JUSTICE
The constitutional fallout from a change of prime minister, rather than the politics, is under scrutiny as questions arise over the limits of executive authority in a leadership transition
The legal profession is undergoing a fundamental shift from selling services to creating technology-enabled products, according to Professor Luke Mason, Head of School of Law at Regent's University London
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