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Lawyers top league in bid for survival

01 January 2009
Issue: 7350+7351 / Categories: Legal News , Profession
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Profession

Law firms are leading the way in trying to lessen the impact of the credit crunch and the recession on their businesses, a new poll shows.
Bridging Finance Limited, which contacted over 3,000 businesses in the north west, says the legal sector has been the most proactive in protecting themselves during the economic downturn.
Nearly 60% of the legal firms polled said they had shed staff in the midterm quarter, prior to the November 2008 survey. The results also showed that legal firms are the most likely to review their credit control procedures. However, over 80% of the legal fi rms taking part reported that their plans for funding staff development had not altered.
Meanwhile, law firms facing imminent tax deadlines have been thrown a lifeline. HM Revenue & Customs (HMRC) has agreed arrangements, proposed by the Law Society, for law firms to defer paying tax during the economic downturn. The arrangements will be managed through HMRC’s Business Support Service, and cover most tax and excise duties including income tax, corporation tax, VAT, PAYE and national insurance.

Issue: 7350+7351 / Categories: Legal News , Profession
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NEWS
Charles Pigott of Mills & Reeve reports on Haynes v Thomson, the first judicial application of the Supreme Court’s For Women Scotland ruling in a discrimination claim, in this week's NLJ
Charlie Mercer and Astrid Gillam of Stewarts crunch the numbers on civil fraud claims in the English courts, in this week's NLJ. New data shows civil fraud claims rising steadily since 2014, with the King’s Bench Division overtaking the Commercial Court as the forum of choice for lower-value disputes
The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
Artificial intelligence may be revolutionising the law, but its misuse could wreck cases and careers, warns Clare Arthurs of Penningtons Manches Cooper in this week's NLJ
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