Legal sector warns against tax ‘raid’ proposal on client account interest ahead of Budget Legal London’s legal sector has sounded the alarm over government plans to cut interest on law firms’ client accounts to fund the justice department, warning it could drive some law firms out of business. The Ministry of Justice’s consultation on a proposal to introduce an Interest on Lawyers’ Client Accounts Scheme (ICLA) closed in March after [...]
London rakes in record fees from overseas demand for legal services Law London is leading the charge of the British legal sector’s overseas exports which surged by 60 per cent over the past five years, hitting a record of almost £11bn, new data has revealed. According to data from the Law Society, the professional body for 178,000 practising solicitors in England and Wales, London “remains an international [...]
Sullivan & Cromwell joins the stampede to Abu Dhabi Law US law firm Sullivan & Cromwell is set to expand its global footprint into the Middle East by opening an office in Abu Dhabi after several other law firms boosted their presence in the region over the last year. The Wall Street titan plans to advise clients across the United Arab Emirates (UAE), Saudi Arabia, [...]
Revolut deploys AI to scrutinise law firms in major shake-up May 19, 2026 Fintech giant Revolut is scrapping the ‘traditional’ method of assigning external law firms in favour of a new system where no law firm’s position is secure. Businesses that need external law firms on hand hold a panel session, where they vet law firms within their price range, and those that win secure a spot for [...]
JMW head of real estate: Despite the challenges, I’m optimistic about the housing market April 2, 2026 Sophie Maryan, head of residential real estate at JMW Solicitors, tells us about life as a City lawyer in Square Mile and Me.
Am I going to be replaced by AI? February 12, 2026 With each passing day it seems another sector suffers an AI-induced wobble on the stock market. We saw the large data companies lose billions in value when a new legal-focused AI tool was launched; we saw the owners of consumer and personal finance platforms take a hit as AI agents upped their game; and yesterday [...]
Shoosmiths to give staff extra £1m after hitting AI target December 16, 2025 Law firm Shoosmiths will give staff an extra £1m in bonuses after they hit the firm’s annual target for 1m Microsoft Copilot prompts more than four months ahead of schedule, City AM can reveal. The firm told City AM in April that it had set a “clear and ambitious annual target” of 1m on its [...]
Yet another Transatlantic tie-up: Ashurst and Perkins Coie announce $2.7bn merger November 17, 2025 UK law firm Ashurst has agreed to merge with the US law firm Perkins Coie, the latest move in a series of large transatlantic tie-ups in the legal sector. After a week of speculation about Ashurst being in merger talks, the firm agreed a deal with Settle-based Perkins Coie to become a $2.7bn law firm, [...]
LLP U-turn: Law Society demands ‘absolute clarity’ plan is off the table November 14, 2025 The professional services sector will breathe a sigh of relief as one of her reported rollbacks includes crossing out plans to target limited liability partnerships (LLPs) for tax. The LLP model, used by professional services such as law firms, accountancy, and some doctors (GPs), came into force 25 years ago, which does not pay corporate [...]
NHS woes fuel private healthcare boom, with lawyers reaping the rewards November 13, 2025 Private healthcare in the UK is experiencing unprecedented growth as NHS waiting lists soar and public services struggle to keep up. This surge in demand is also fueling a flurry of legal activity, keeping lawyers busy. Deals lawyers in the UK are generally the busiest and most important practices for most law firms; however, with [...]