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Legal revenue peaks and troughs

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17 March 2021
Issue: 7925 / Categories: Legal News , Profession , Legal services
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The last month of 2020 was the highest billing month in history for the legal profession in the UK, Office for National Statistics (ONS) figures have shown.

Legal activities revenue of £3.53bn was recorded for December 2020, a record high for the profession. For 2020 as a whole, the UK legal services industry billed £36.7bn, roughly the same as in 2019.

However, December’s peak fell 16.4% to £2.95bn in January.

Julie Norris, regulatory partner, legal services at Kingsley Napley, said: ‘Many firms are likely now looking forward to a post-lockdown future and will be seeking to ramp up growth in the coming months. In these unprecedented times, law firm leaders need to carefully consider growth plans in the context of both their impact on staff wellbeing and increased scrutiny from regulators.’

Issue: 7925 / Categories: Legal News , Profession , Legal services
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