2012 Q1 Conveyancing Periodical
by Julian Farrand QC LLD
In general, good news is in short supply these days. We have entered the New Year under a cloud. The world is navigating difficult and uncharted waters - economically, politically and socially.
The legal world is facing its own challenges too. There is still uncertainty (and intrigue) about how the introduction of alternative business structures will really affect the market. Around 50 applications have already been received by the SRA. The 'big boys' will almost certainly do well from this initiative. However, there will doubtless be pain for smaller firms for whom market consolidation, coupled with a tough economy, will be significant barriers to survival.
Against this backdrop, readers may embrace the chance to flick through the current edition of First Comment - First Title's quarterly conveyancing periodical, not least because it carries (at least some) encouraging news.
A recent survey commissioned by First Title, and carried out by YouGov / SixthSense, reveals that house buyers are overwhelmingly positive about the service they receive from their conveyancers. Maybe the survey will help to correct earlier, less favourable perceptions of the profession among the general public. If nothing else, it should be a welcome shot in the arm for solicitors up and down the country.
In a slight departure from previous editions of the periodical we have included an article from a specialist tax consultant. This examination of the recent revisions to capital allowances legislation is also cause for quiet approbation. And there's a clear message for solicitors involved in the conveyance of commercial properties: ensure your clients are well informed about the changes early on; then, at least, they might benefit from tax breaks that are none too easy to find elsewhere under the current fiscal regime.
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