Features and Opinion – Page 5
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Feature
Go with the flow
With uncertainty around the timing of the next interest rate rise, law firms need to get prepared and ensure that their cashflow is robust enough to weather any financial storms, says Paul McCluskey
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Feature
Five for fighting
The recent changes to criminal legal aid have placed unprecedented strain on legal aid firms. Prashant Joshi outlines five options for firms, from closure to merging
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Limited edition
The changes which came into force on 6 April 2014 represented a fundamental change to LLP taxation, for both individual partners and firms. Jon Cartwright looks back at how we got here, and what law firms need to do now
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Opinion
Under the banner
Robert Banner, new chair of the Section executive committee, outlines his plans for the Section, including helping firms through financial stability issues, and supporting smaller firms with practice management challenges
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Feature
How do you compare?
Our 2013 Financial Benchmarking Survey report is out now. Fees and profits are up once again, but partner capital is down, and many firms show signs of financial stability issues. Andy Harris introduces the results of the survey
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On the money
In today’s challenging marketplace, firms need to be able to spot potential financial problems early and take decisive action. Clare Boardman provides an accountant’s perspective on the steps a firm needs to take to secure its financial future
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Feature
Office politics
As firms struggle to adapt to the pace of change in the legal market, premises costs can make the difference between success and failure. Steven Petty explains how you can manage these costs to the benefit of your firm
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Opinion
Counting the cost
Law Management Section chair Chris Hart discusses this issue’s financial focus, and bids farewell as chair of the Section
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Feature
It all adds up
Despite the sombre headlines of financial woe we were faced with last year, 2013 saw the UK economy grow and the professional services sector perform strongly. Can they both be right? Barry Wilkinson looks at what exactly is going on
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Feature
Better safe…
The Solicitors Regulation Authority’s focus on financial stability is part of a wider change to the regulatory environment, and what compliance means in practice. George Bull explains how to assess your firm against the regulator’s risk indicators
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Feature
Life partners
Andrew Allen discusses the impact on law firms of the partnership changes announced in the autumn statement, including to the self-employment status of LLP members, and to the operation of ‘mixed partnerships’
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Cash in hand
Cashflow is the lifeblood of any business, and a lack thereof can be a key reason for financial instability. Behind good cashflow are effective cash management policies and a culture set up to deliver them. Barry Wilkinson and Robert Banner explain how to show your firm the money
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Multi-tasking?
Ian Muirhead asks why multi-disciplinary practices have been less popular than they were seemingly envisaged to be by the Legal Services Act, and presents a personal view on the role of joint ventures between solicitors and independent financial advisers
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New obligations
By 2018, all UK firms will be required to enrol all eligible employees into a qualifying pension scheme. Georgina Beechinor looks at how these changes and developments will affect law firms, and what you should be doing now to prepare
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Feature
Private lives
Six months on from the major changes to family legal aid, many firms are still grappling with the move from legal aid to private clients. Helen Broughton explains some of the management and financial challenges, and how to deal with them
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Feature
Golden Brown
Wosskow Brown managing partner, Ian Brown, on securing new banking facilities worth nearly £2m
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Feature
The rules of civility
The cuts to civil legal aid have hit both members of the public and law firms hard. Richard Burcher looks at the strategic options for firms deciding whether or not to continue with civil legal aid work
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Feature
War of independence
Ian Muirhead provides a personal perspective on the Solicitors Regulation Authority decision to allow referrals from non-independent financial advisers, and looks at how law firms can select advisers they can trust with their referred clients