ARTICLE · 17 OCTOBER 2011

Professional Practices News: A Briefing On Topical Issues - Autumn 2011

Smith & Williamson

Explore more from Smith & Williamson

Sorry, but if you were planning to list your law firm on the London Stock Exchange this October, you will have to wait until the new year, as the implementation of certain aspects of the Legal Services Act (LSA) have been delayed.

United KingdomTax

David Alexander

+1 more

FOREWORD - CAUSE FOR OPTIMISM

Sorry, but if you were planning to list your law firm on the London Stock Exchange this October, you will have to wait until the new year, as the implementation of certain aspects of the Legal Services Act (LSA) have been delayed.

For the vast majority of law firms, the most pressing issue arising from the LSA will be who takes on the role of the COLP (Compliance Officer for Legal Practice) and COFA (Compliance Officer for Finance and Administration) – a particular concern if it's you who is taking on one of these roles!

For all professional practices there are the wider challenges of operating in an environment that is, as our economist Philip Lawlor reports later, suffering from a shortfall in demand.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Autumn Budget 2026: “Use It When You Need It, Rebuild It When You Can”

United KingdomTax

Womble Bond Dickinson (UK) LLP

Why Canadian Pension Boards Should Act On The UK's Sovereign Tax Shake-up

United KingdomTax

Autumn Budget 2026 — What Does It Mean For Employee Ownership Trusts?

United KingdomTax

Tax Reform Wish List: Britain Needs More Than Another Round Of Tinkering

United KingdomTax

Budget 2026: What Should Founders And Entrepreneurs Be Watching?

United KingdomTax

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

Comparative Guide

Tax Disputes

Comparative Guide

Tax

See more popular content from

Tax

Has Your Mauritian Transfer Pricing Documentation Kept Pace With The Mauritius Revenue Authority?

On June 10, 2019, the Hon. Prime Minister and Ministry of Finance & Economic Development of Mauritius presented the 2019-20 Budget.

United KingdomTax

DLA Piper UK LLP

What Are Exit Taxes And How Do They Work?

As the UK anticipates its first Budget under Andy Burnham's premiership on 28 October 2026, questions arise about whether 'Manchesterism' will introduce an exit tax regime. This analysis examines how different jurisdictions—from Canada's deemed disposal system to France's targeted charges on substantial holdings—tax individuals leaving their borders, and explores what form a UK exit tax might take if implemented.

US FATCA In The UK - Updated HMRC Guidance Notes Released

Today HMRC released updated Guidance Notes on implementing FATCA in the UK.

United KingdomTax

Andy Burnham’s Property Tax Reform: What High Net Worth Individuals Need To Know

Burnham has consistently advocated for replacing council tax and stamp duty with a land value tax - an annual levy charged on the value of the land itself, rather than the buildings on it.

United KingdomTax

Capital Gains Tax And Private Equity Tax Under A Labour Government: What We Know So Far

Labour plans to defer major tax changes until the autumn Budget. Key potential changes include raising capital gains tax, altering private equity taxation, and possibly integrating capital gains and inheritance tax rules.

United KingdomTax

UK ‘Windfall’ Bank Tax Would Worsen An Already Complex System

UK banks face the prospect of a new windfall tax as campaigners push for additional levies on strong reported profits, while industry leaders warn of potential consequences for lending, investment, and the UK's position as a global financial centre. This analysis examines the practical implications of adding another layer to an already complex sector-specific tax regime that includes corporation tax, banking surcharge, and bank levy.

United KingdomTax

Frequently Asked Questions About IRS Clearance And Form 706-NA

UK executors and beneficiaries dealing with US assets face significant delays in obtaining IRS Transfer Certificates, with waiting times now extending to two or three years. This comprehensive FAQ addresses the critical questions surrounding Form 706-NA applications, US estate tax requirements, and the practical challenges of administering estates containing US shares and investments when the deceased was not a US citizen.

Lester Aldridge LLP

Taxation Of Earn-Outs On Business Sales: Capital Gain Or Disguised Salary?

HMRC is increasing scrutiny of earn-out arrangements, particularly where founders remain involved in the business after completion and deferred consideration depends on future performance of the target company.

United KingdomTax

Autumn Budget 2024 - Capital Gains Tax

The Chancellor's 2024 Budget introduced moderate changes to Capital Gains Tax (CGT). Rates for basic and higher rate taxpayers increased to 18% and 24%, respectively. Business Asset Disposal Relief and Investors' Relief rates will rise from 10% to 18% by 2026, with anti-forestalling provisions. Rates for residential property disposals remain unchanged.

United KingdomTax

Travers Smith LLP

Transfer Pricing Enquiries: HMRC’s Approach And Recent Cases

Transfer pricing litigation in the UK has historically been rare, but recent procedural cases reveal HMRC's increasingly aggressive approach to enquiries. With average enquiry durations now exceeding 40 months and transfer pricing yield surging to £3.4bn, understanding the legal boundaries of information requests and closure notice applications has become critical for multinational groups facing contentious disputes.

United KingdomTax

Macfarlanes LLP