Charity employees and trustees often assume that they receive an automatic VAT exemption on all goods and services that they buy/receive. This is not the case and charities should understand the few concessions in the VAT legislation that can reduce their VAT bills....
A recent survey conducted by HSBC between May – July 2022 has found that 50% of respondents plan to reduce their office space within the next three years. It is important to note that this survey was conducted before the latest economic issues developed. This is an...
What is the indemnity fund? The Solicitors Indemnity Fund (SIF) was established in 1987 to provide compulsory professional indemnity cover to all solicitor firms in private practice in England and Wales. With the agreement of The Law Society of England and Wales, the...
The LSB (Legal Services Board) has developed a new website called reshapinglegalservices.org.uk. The new website aims to present research and insight about the future of legal services from lawyers, regulators, tech experts and consumers. The idea behind the website...
After a delay due to a technical issue the Charity Commission has now opened its online system for submitting annual returns. The system was originally scheduled to go live towards the end of April. But due to the delay it was not released until 5th of May. What is...
A revised version of the Charities Statement of Recommended Practice (SORP) is set to be updated from 1 January 2024. This is less than two years away. The charities SORP was first introduced in 2015 and updated in 2019 to clarify and reflect amendments and changes to...
What is Legal Data? Legal data is information classified as regarding law and is generated from multiple formats including time recording, knowledge banks, spreadsheets, legal documents, billing systems and more. This data is used in all areas of practice law. It is...
From this Autumn rules are changing which should make it easier for charities to access money donated in a fundraising campaign that did not reach or exceed its planned target. The Charities Act 2022 received royal assent in February and a plan has now been...
A recent report has found that the number of small charities merging is on the rise. The annual Good Merger Index published by Eastside Primetimers showed that between 1 May 2020 and 30 April 2021, 77 mergers took place which involved 166 charitable organisations....
It’s no secret that many sectors are facing severe wage inflation with many locked in ongoing battles to retain their best staff. Indeed, as the economy begins to open up as Omicron-related restrictions are eased, many legal firms in particular are facing a backlog of...
The SRA has proposed to end the provision of post-six-year run-off cover because they judge the protection as disproportionately expensive. Run-off cover is insurance for claims made against a law firm after it has stopped doing business. This change would mean that...
The SRA is proposing a major increase in their fining powers and has developed a new fast track system for ‘fixed penalties’ for low-level offenses. The SRA has begun a consultation on increasing the maximum fine they can issue to law firms from £2,000 to £25,000. In...