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Council Member‘s Report A REPORT FROM LAW SOCIETY COUNCIL MEMBER LUBNA SHUJA is due to close) to allow further time to find a suitable alternative. Press releases have been sent to the profession to update members on the current position. In May 2021, a joint letter was sent to the SRA from the Law Society and the Legal Services Consumer Panel requesting SIF should continue.
You may be aware that in March 2021 I became Vice President of the Law Society of England and Wales and I. Stephanie Boyce took office as President. We have had a very busy time, dealing with a number of issues on behalf of the profession. Remote meetings continue although the next Council meeting on 14 July 2021 has been tentatively pencilled in as a hybrid meeting. We hope to be able to meet some colleagues again in person on that date but that may change subject to government announcements. Council has met virtually a few times since my last SOLO report. Council meetings took place remotely on 23 March 2021, 19 May 2021 and 9 June 2021. I set out below details of the main issues discussed at those meetings together with a brief update on developments since then. A copy of the CEO’s report to Council’s March meeting, which contains more detailed information, can be found on our website at www.spg.uk.com.
The Solicitors Indemnity Fund The Solicitors Indemnity Fund (SIF) has been a hot topic on Council and indeed across the profession. The Law Society has been working hard for the last three years to try and find a solution for members. Having explored various avenues, the Law Society concluded that it would be in the best interests of members and indeed consumers, for SIF to be extended beyond September 2021 (when it
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On 26 May 2021, a meeting took place between the CEO’s and General Counsel of the LSB, SRA and The Law Society. The LSB had clearly received a number of letters and communications from members and retired members, and made it clear that the LSB was now taking a keen interest in SIF. The LSB made suggestions as to how The Law Society and the SRA should work together to resolve the position over post 6 year run off (P6YRO) cover. On 4 June 2021, the Law Society sent a further letter to the SRA again requesting SIF should continue. We referred to the SRA’s Board meeting on 8th June and asked them to again consider: a. the adverse consequences to consumers, our members and the good standing of the profession of a decision to close the fund at this time; and b. the current adverse insurance market conditions and the non-availability of any P6YRO replacement insurance in the market. We made it clear that if the SRA maintained their position to close the fund in September 2021, we expected detailed reasoning for their decision. The SRA Board met on 8 June 2021 to consider the matter further. As I write this update, we are awaiting their decision and will update members as soon as we are able. (a) Outdoor advertising on tube, rail, trams and railway stations: • London underground – for 2 weeks • Rail 4-6 weeks and tram /metro /rail interiors for 4 weeks in different locations)
End of Stamp Duty Land Tax Holiday As the Stamp Duty Land Tax (SDLT) holiday deadline approaches on 30 June 2021 in England
with tapered rates applying until the end of September, the Law Society has published new guidance for under-pressure conveyancing solicitors. Solicitors in Wales are also subject to the same deadline as the Welsh land transaction tax ends on 30 June 2021. There is guidance about managing client expectations and practical suggestions for dealing with transactions on the Law Society website at https://www.lawsociety.org.uk/contact-or-visitus/press-office/press-releases/final-countdownon-stamp-duty-holiday-leaves-conveyancingsolicitors-under-pressure.
Covid-19 and Safety Much of the Law Society’s work has continued to focus on member safety and the 3Rs – ‘Reset, Resilience and Recovery’ campaign (the 3Rs). Updated support and guidance can be found on the Law Society website at: https:// www.lawsociety.org.uk/topics/coronavirus. That work has had a significant impact including the following: • Over £500million public spending was allocated from the Treasury to the justice system as part of the 1-year spending review; • The Ministry of Justice’s budget was protected for 2021 and the Chancellor announced an above inflation increase of more than 4%. • Almost 220 solicitors facing redundancy or employment related challenges benefited from the Law Society’s career clinics and gave positive feedback on the service. • The Law Society liaised closely with government departments to secure further clarification and confirmation that solicitors, who act as key workers in England by attending court and fulfilling legal obligations, will continue to be treated as such. • On business support measures, the Law Society joined calls suggesting that business support should be commensurate with the scale of the restrictions imposed. • The Law Society is in regular contact with HMCTS, including a weekly court safety meeting allowing concerns of members to be raised.
