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30 November 2023
A decision has been taken to wind up a limited partnership - that heralds the end for all concerned… or does it? Can a cause of action which accrued pre-dissolution be litigated by the general partner post-dissolution following the apparent winding up of the limited partnership? The High Court (at least on an interim basis) has said, yes.
Lewis Silkin recognised with top rankings in Chambers UK 2022 for Employment, Media and Entertainment: Advertising and Marketing, and Intellectual Property: Law Firms with Patent and Trade Mark Attorneys
Press21 October 2021
Lewis Silkin’s performance in the sector continues to improve following a strong performance in Legal 500, earning 69 individual and practice rankings – of which 6 are top tier practice rankings and 5 are new entries or improvements.
28 July 2021
In July 2021 the Court of Appeal held that innocent partners in a firm of solicitors are not always liable to former clients of the firm for losses caused by the acts of a fraudulent partner[i].
Any member of an LLP may be subject to a Disqualification Order – not just those on the Management Committee06 April 2021
Pursuant to the Company Directors Disqualification Act 1986 (CDDA) the court may, in certain circumstances, make a ‘Disqualification Order’ preventing an individual from being a company director for a period of up to 15 years.
09 June 2020
It’s not unreasonable to think that if a partner retires from a limited liability partnership (“LLP”) under the terms of a Deed of Retirement which contains a waiver and release clause, that partner will not be subjected to claims for any liabilities to the LLP.
05 May 2020
In seeking to survive the coronavirus lockdown, partners and management teams at many professional services firms will have welcomed the package of support provided by the UK Government, including the proposal that on account tax payments due by 31 July 2020 may be deferred until 31 January 2021.
27 March 2020
Due to the immediate and stark effect that the Covid-19 outbreak is having on a lot of businesses, the Government has reminded everyone that it often reaches arrangements with businesses in financial distress for deferred payment of their tax liabilities. While this facility is not new, the Government expects the demands on the service to increase dramatically and is therefore scaling up its capacity to deal with new enquiries.
VAT and income tax deferrals to assist VAT-paying businesses and the self-employed during Covid-19 Outbreak
Inbrief27 March 2020
As part of the sweeping financial package announced by the Government on 20 March 2020, the Government is offering VAT and income tax deferrals to assist with the cash-flow of VAT-paying businesses and the self-employed. These deferrals are expected to provide over £30bn of additional cash-flow to a wide variety of British businesses.
Press07 June 2019
In an article for Accountancy Age, Mark Lim outlines what partners need to know in the event of an LLP’s insolvency.
Press25 April 2019
In an article for Accountancy Age, Fergus Payne, partner and head of our partnerships and LLPs practice group, explains how to update your LLP Agreement.
Press01 April 2019
Fergus Payne recently attended the latest Gazette roundtable, where mergers, finance, technology and succession planning were high on the agenda and changing law firm business structures were discussed.
Press18 March 2019
Professional services firms, requests for documents and Section 2 notices under Criminal Justice Act 1987 could pose a risk for accountants and auditors as illustrated in the recent Omers case at the High Court, explains Andrew Wanambwa, in an article for Accountancy Age.
21 February 2019
The Supreme Court has upheld the appeal of a firm of solicitors defending a professional negligence claim and helpfully reiterated well-established principles about the approach the court must take when considering the issue of causation in loss of chance cases. The decision clarifies what has to be proved in cases where the question for the court depends on what: (a) the claimant would have done (which the claimant must prove to the usual standard ‘on the balance of probabilities’); compared with (b) what others would have done (which are better assessed on a loss of chance basis).
James Gill and Mark Hersey write for Accountancy Age: Moving to the Cloud in 2019: 10 steps to avoid the common pitfalls
Press08 January 2019
Mark Hersey and James Gill have written an article for Accountancy Age explaining how to make your move to cloud accounting as smooth as possible this year.
Fraser McKeating writes for Accountancy Age: Professional privilege and investigations – what do accountants need to know?
Press26 November 2018
In an article for Accountancy Age, Fraser McKeating explains how the law of privilege operates in the context of investigations.
Case Study29 October 2018
The Financial Reporting Council (FRC) is the regulator for UK statutory audits. Its responsibilities include setting audit standards, as well as enforcing the quality of audit. It is the investigative and disciplinary body for UK accountants dealing with cases affecting the public interest. FRC investigations naturally focus on those under its jurisdiction, such as its member accountancy firms and individual auditors. Sometimes, however, the conduct of the audited company and its managers will also be relevant. Two recent cases have discussed the duties owed by the FRC to these entities. The cases will be relevant to other regulators.
Two wrongs don’t make a right: Court of Appeal decides illegality is no defence to professional negligence claim16 October 2018
For public policy reasons, the Court of Appeal has held that the defence of illegality was not available to a firm of solicitors that failed to register a property transfer to a client involved in mortgage fraud. The court decided that there was no risk that enforcing the client’s negligence claim would undermine the integrity of the justice system and she was entitled to damages, in spite of the fraud.
Press10 January 2018
In an article for Accountancy Age, Clive Greenwood discusses that while accountancy firms heavily invest in attracting and retaining talent, do they devote sufficient effort to ensuring teams can’t go and play for the opposition?
Fergus Payne writes for Accountancy Age: LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?
Press15 December 2017
In an article for Accountancy Age, Fergus Payne discusses why and how do accountancy firms set up or convert to an LLP, and will LLPs continue to be the preferred set-up in the future?
Press Release23 June 2017
Createch - the emerging category in which technology enables new forms of creativity and vice versa - was celebrated as a new growth opportunity for the UK at a unique gathering of business leaders, entrepreneurs and creatives.