This Week in Law: Equal Parental Leave, Surveyor Shortages and more
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From Bank of Mum and Dad to Bank of Son and Daughter
Traditionally, parents have helped their children buy homes or cover university fees. But there seems to be a growing trend where this is flipped, with more and more adult children helping their parents with a range of financial pressures, including daily living costs and private healthcare. Financial planning increasingly needs to reflect changing family dynamics. Advisers and private client lawyers need to help families plan for support in both directions – not just passing down wealth, but also planning for upward support.
Find out more here.
HMRC Investigates Football Clubs Over R&D Tax Credits
HMRC is looking into 33 claims for R&D tax credits by football clubs – usually intended for tech and scientific innovation, not sports teams.
- Tax credits were designed to reward innovation
- Football clubs are now being challenged on eligibility
- HMRC is taking a more aggressive stance on enforcement
This is a clear warning that HMRC is tightening its approach. If your clients use R&D or similar tax reliefs, ensure their claims are well-documented and genuinely within the rules. Find out more here.
Thames Water Fined £122.7 Million
Thames Water has received a record £122.7m fine from Ofwat. The penalty includes £104.5m for repeated sewage pollution and £18.2m over dividend payments made during periods of poor performance.
Regulators may be taking a firmer line with utility companies. This could set a precedent for tougher environmental enforcement – businesses in regulated sectors should take compliance and ESG obligations seriously. Find out more here.
Fathers Calling for Equal Parental Leave
More fathers are pushing for better parental leave. While some progressive companies are offering six months’ fully paid leave for both parents, many fathers still only get two weeks.
This could lead to changes in employment law and workplace expectations. HR teams and employment advisers should review policies now to stay ahead of potential reforms and be looking to improve gender equality in the workplace. Find out more here.
Surveyor Shortage Creating Delays in Property Transactions
The UK is facing a shortage of qualified surveyors, leading to delays in mortgage approvals, valuations, and property sales.
- Transactions are slowing down as surveys take longer to complete
- Divorce and probate processes are also affected where property is involved
- Some technology-based surveying tools are starting to offer solutions
Conveyancers and family lawyers will need to manage client expectations and consider partnering with firms using tech-based surveying methods to speed up the process. Read more here.
Divorce Cases Offer Opportunity for Financial Advisers
With over 200,000 divorces in the UK each year, financial advisers are playing a bigger role in helping clients split assets, manage pensions, and rebuild financial stability post-divorce.
Divorce lawyers should perhaps consider bringing in trusted financial advisers earlier in the process. This helps clients reach better settlements and gives firms an opportunity to offer a more joined-up service. Read more here.
The Rise of ‘Click-Free’ Search
AI tools like ChatGPT are changing how people find information. Instead of typing into Google and clicking links, users are getting direct answers in one place. Some experts think ChatGPT could rival Google’s dominance by 2031.
The way people discover your business is changing. If your online content isn’t clear, useful, and written for AI-readers as well as people, you’ll fall behind. Law firms and advisers should review their content strategies now – speak to us if you need help.
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