Law Society Slams Labour's 'Crude' Stealth Tax on Legal Clients

Law Society slams Labour's 'crude' stealth tax on legal clients

The Law Society issued a blistering response to the government’s proposal to take the interest law firms earn on money sitting in their client accounts, branding it a “fundamentally flawed” sector-specific tax that threatens the stability of the wider UK legal economy. Last month, the Ministry of Justice opened a consultation on a proposal to introduce an Interest on Lawyers’ Client Account Scheme (ILCA), with Minister of Justice David Lammy des…

Lawyers reject client account 'windfall' claims

‘Flawed' scheme sets a 'damaging precedent' and conflicts with government growth agenda, says Law Society.

Client account proposals 'an unfair tax on clients and cannot proceed', Law Society says

The Ministry of Justice’s proposed scheme for Interest on Lawyers’ Client Accounts (ILCA) is fundamentally flawed, lacks adequate evidence and is a crude sector-specific tax on clients of legal services, the Law Society of England and Wales has warned. Commenting on the release of its response to the government consultation on ILCA, The Law Society said it is “extremely concerned about the serious consequences these proposals could have for acce…