Kings Court Trust Blog

Breaking the Stigma: Understanding Probate Regulation Beyond the SRA

on 02-Sep-2024 09:00:00 By | Kings Court Trust |

When it comes to probate and estate administration in the UK, the regulatory landscape extends beyond the Solicitors Regulation Authority (SRA). Many organisations, including the Institute of Chartered Accountants in England and Wales (ICAEW), also regulate these services, ensuring high standards and professionalism.

The risk of miscalculating your Inheritance Tax - You could be branded a criminal

on 08-Dec-2015 09:00:00 By | Kings Court Trust |

Ordinary individuals inheriting assets from overseas could risk criminal charges if they miscalculate the tax owed, reports The Telegraph.

Artwork Received By Government Instead of Tax Payments

on 18-Sep-2014 09:00:00 By | Kings Court Trust |

At KCT we were particularly interested to read recently that various heritage objects, including works of art, have been received by the government in lieu of heritage tax, according to an article on The Telegraph. More than £100 million worth of items were received over a five-year period.

Number of ABSs Surpasses 300

on 18-Apr-2014 09:00:00 By | Kings Court Trust |

More than 300 firms have now obtained a licence to become an alternative business structure (ABS).

ICAEW & CILEx Approved to Regulate Probate Work

on 13-Mar-2014 09:00:00 By | Kings Court Trust |

The Institute of Chartered Accountants in England and Wales (ICAEW) and the Chartered Institute for Legal Executives (CILEx) will now have powers to license alternative business structures (ABSs) and regulate probate work after their applications to become approved regulators were accepted by Lord Chancellor Chris Grayling last week.

LSB Supports ICAEW's Bid to Regulate Probate Work

on 20-Dec-2013 09:00:00 By | Kings Court Trust |

The Legal Services Board (LSB) is voicing its support to name the Institute of Chartered Accountants in England and Wales (ICAEW) as a licensing authority for alternative business structures (ABSs), its chairman David Edmonds has said.

Rising Number of Law Firms Fail to Secure Indemnity Cover

on 24-Oct-2013 09:00:00 By | Kings Court Trust |

All legal firms in England and Wales are required to have professional indemnity insurance, covering civil liability claims such as professional negligence. Existing firms had to renew their insurance by the start of the indemnity period on 1 October, after which the single renewal date was abolished.

ABSs Starting to Make Waves

on 27-Sep-2013 09:00:00 By | Kings Court Trust |

Research from the Legal Services Board (LSB) points to the strong potential of alternative business structures (ABSs) to make a huge difference in the legal services market. According to the LSB, ABSs are more productive, better at dealing with complaints about service and more innovative than traditional law firms.

Consumer Panel Remain Insistent on Path to Will Writing Regulation

on 04-Jul-2013 09:00:00 By | Kings Court Trust |

The Legal Services Consumer Panel is determined to keep trying to persuade policymakers that Will writing should be made a reserved legal activity, even though the government decided not the support the idea in May.