Launching a campaign this week to help solicitors get back on their feet, the Law Society called on the government to invest in the profession through incentives such as research and development tax credits and allowances.
It suggested relaxing the criteria for applications to the government’s Future Fund, which loans money to UK businesses, so lawtech start-ups can apply, and giving training in lawtech-related intellectual property claims to the judiciary at the business and property courts.
More generally, it called for VAT extensions and income tax deferral schemes to help law firms with cash flow, temporary relief for employers’ national insurance contributions and a temporary reduction in the VAT rate to boost suppliers of goods and services, including legal services.
The Law Society urged the government to give law firms leeway to spend apprenticeship money on a range of support to create more jobs. For example, the money could be spent on lawtech seats and training in lawtech skills, training in secondary specialisations so people can re-train in other practice areas, and on training contracts for students about to complete the Legal Practice Course.
The Law Society’s ‘Return, Restart and Recovery’ campaign will involve: helping firms return to their offices safely; helping solicitors and firms to restart the economy; and empowering solicitors and firms to drive the recovery after coronavirus.
Simon Davis, Law Society president, said: ‘All across the country solicitors have worked tirelessly for their clients to ensure the highest standard of service.
‘As we enter this new phase of the response to coronavirus, with government beginning to lift some restrictions, it is clear that technology will play a vital role in driving the post-coronavirus recovery across all sectors of the economy, including legal services.’
