The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
As Legal Charity Commissioner from 1989 to 1997, I read the article in The Lawyer (14 June) "Charities require masters of all trades", with interest. However, there is one passage (highlighted in the middle of the text) which is not completely accurate and is therefore misleading. It is not true to say that "If more than 10 per cent of a charity's revenue is raised through trade, the Inland Revenue can tax all of its revenue."
There is a very important exception to this proposition: where the trading activity represents the means by which the charity achieves its purpose rather than merely raising funds for use in achieving its purpose. This is known in the "trade" as "primary purpose trading", and is exempt from income tax.
As there are a good number of charities which do this, it is important that the matter be corrected.