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UK legal services market second only to the US globally for fee revenue

31 July 2024
Issue: 8082 / Categories: Legal News , Profession
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The legal services sector generated turnover of £47.5bn in the UK in 2023, according to the Legal Services Board (LSB) annual report

It highlights that the UK legal services market is second only to the US globally for fee revenue, and employed about 368,000 people last year (not including the in-house side of the profession, where 26% of solicitors were based in 2022).

The LSB’s expenditure of £4.659m was within 1% of its £4.679m budget, and it returned £129,000 as a rebate on the levy in the next financial year.

Alan Kershaw, Chair of the LSB, said: ‘High-profile matters such as the Post Office IT Horizon scandal and the collapses of Axiom Ince and SSB Law reinforce the importance of effective regulation, consumer protection and high standards of professional ethics.’

Issue: 8082 / Categories: Legal News , Profession
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Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

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