The numbers of lawyers registered to practise remained much the same, scotching fears practitioners might leave the profession.
However, the LSB acknowledged these figures mask the disproportionate impact on legal aid firms, where more than 70 offices have closed since April 2020, and on people at the start of their career, those with caring responsibilities, sole practitioners and small firms.
LSB chair Helen Philips said: “For the first time, we can see the emerging data on the impact on the profession in terms of turnover and numbers of regulated firms and lawyers. Turnover in the legal services sector remained flat in 2020, while turnover across all UK services fell. Overall numbers of regulated law firms and legal professionals in England and Wales remained stable.
“The overall figures mask that the crisis has affected parts of the profession differently. As our Covid-19 dashboard shows, there have been substantial changes in consumer demand across different parts of the sector, with some areas dropping off significantly and others booming. The LSB’s focus continues to be on supporting recovery, growth and competition that supports the public interest.
“We are very concerned about the impact of Covid-19 on the diversity of the profession. As the sector recovers, we must continue creating and supporting a sector that looks like the society it serves.
“Everyone who needs legal advice must be able to access it, and we are committed to working with everyone inside and outside the profession to reshape legal services to better meet the needs of society.”
