Latest News

Law firm 2023/2024 benchmarking review provides encouraging insights

Legal Sector Manager Victoria Lovell looks at the key findings from our 2023/2024 law firm benchmarking review, including fee income averages, net profit, people and overheads. 

Scottish Budget: Income tax band increases

Among the SNP’s Scottish Budget proposals for the coming tax year, Finance Secretary Shona Robison announced increases to the income tax starter rate and basic rate thresholds, however these small tax savings do very little to ease the pain of fiscal drag for many.

Reminder of holiday pay reforms for employers operating January to December annual leave

Employers operating annual leave on a calendar year basis will need to prepare ahead of the new holiday pay changes for seasonal and irregular hours workers impacting them from January 2025.

Armstrong Watson appoints Financial Due Diligence partner in Leeds

Armstrong Watson is delighted to announce the appointment of Stephen Green as Transaction Services Lead Partner for the firm.

How do the recent changes to Capital Gains Tax affect your investments?

The Capital Gains Tax (CGT) annual exemption dropped to £3,000 in 2024/25 and the Autumn Budget announced an immediate increase in the rate of CGT. What impact does this have on your investments? 

Tax changes for furnished holiday letting owners and businesses

Current tax perks a furnished holiday let (FHL) property has over a standard UK or overseas property business are set be lost, and income from these properties will be treated the same as a long-term let. This will have a significant impact on those who have invested in short-term property letting, either as an individual or as a business.

The importance of cyber security for the not-for-profit sector

Charities and not-for-profit organisations are prime targets for cyber attacks, with consequences that can be financially crippling and damaging to an organisation’s reputation. Have you assessed your cyber risk? 

Impact of the Autumn Budget on the Mergers and Acquisitions market

Ahead of the Autumn Budget there was a great deal of uncertainty and also some panic. With the challenges ahead now realised, those who perhaps weren’t ready to exit their business, or indeed commit to buying one, can now at least plan ahead with some degree of certainty.

How much will your salary bill increase from April 2025? Download our free Forecasting Tool

Changes announced in the 2024 Autumn Budget will significantly impact employer wage bills from April 2025.

Insolvency procedures for UK law firms

When a law firm cannot avoid insolvency, there are a number of steps to be taken and it is important to act promptly to avoid intervention.

At the point an insolvency practitioner is engaged, there are a number of questions that must be asked before a decision is made as to the most appropriate insolvency procedure for an insolvent law firm to enter into.