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Filtered By Category: Professions

Nov 19 2019

The Law Society of Scotland Financial Benchmarking Survey 2019

Categories: Professions

The Law Society of Scotland recently released its annual edition of the Financial Benchmarking Report, giving an insight into current trends and performance of the legal sector. Head of EQ Professions, Mark Gibson, commented; “The Law Society of Scotland Financial Benchmarking Survey gives Scottish legal practices the opportunity to assess their performance relative to the more

Oct 18 2019

Gabriel reporting – a new system in development

Categories: Professions

The Financial Conduct Authority (FCA) is undertaking a significant project to make changes to its current data collection system – Gabriel.  Gabriel, which stands for ‘gathering better regulatory information electronically’, has been criticised over the years for its complexity, but is looking to make considerable improvements to remedy this.  The FCA launched a survey earlier more

Aug 21 2019

Are you invested in protecting your business online?

Categories: Professions

Online Security continues to be a top concern for the modern-day business. The increasing reliance on computers and technology has changed the business world for better, and for worse. Something as simple as an email link can allow hackers into your server and give them full access – you have all probably received the HMRC more

Jul 22 2019

Revenue Scotland to upgrade their online tax collection system

Categories: Professions

This month, Revenue Scotland will be upgrading their online tax collection system, known as SETS (Scottish Electronic Tax System) which will affect the submission of Land and Buildings Transaction Tax (LBTT) returns. Revenue Scotland is seeking to make the change over to the new system as seamless as possible, with all of the data in the more

Jun 13 2019

To be or not to be an employee – that is the question

Categories: Professions

Self employed individuals often want to be treated as employees for employment law purposes. This will give them possible entitlement to compensation for loss of their job or holiday pay or sick pay. Recent cases include Uber drivers, who successfully argued that they are employees. However, when it comes to taxation, you may not wish more

May 24 2019

Trainee Solicitors – Investing for the future

Categories: Professions

The Law Society of Scotland have recommended that trainee solicitors should receive a minimum salary increase in 2019/20 of £500. This will mean a minimum salary of £19,500 for first year trainees and £22,500 for second year trainees. The recommended rate is only advisory but sets the benchmark for member firms. Although employers have discretion more

Apr 24 2019

How can a profitable business collapse?

Categories: Professions

The collapse of a well known Scottish legal firm, reportedly making an annual net profit of £950,000 with turnover of £4.9m, may seem surprising to most people. In many ways it is surprising, but businesses and the modern economy change at a rapid pace nowadays and successful businesses can simply be left behind if they more

Mar 18 2019

Royal Bank of Scotland (RBS) Legal Benchmarking report 2019

Categories: Professions

Last week, RBS released its latest annual edition of the Legal Benchmarking report. For Scottish firms it made for positive reading, but there were some emerging trends for Scottish law firms and, indeed the wider professions sector, to carefully consider. EQ Professions partner, Mark Gibson, commented: “The Royal Bank of Scotland legal benchmarking report 2019 more