Costs lawyers warm to Jackson reforms
The number of costs lawyers predicting that the Jackson reforms will force them to cut the size of their practices has more than halved since last year, from 42 per cent to 20 per cent, a survey has found.
More costs lawyers think their firms will grow than shrink as a result of the changes, 28 per cent compared to 20 per cent, the survey of 128 members of the Association of Costs Lawyers revealed.
More than half, 55 per cent, said they would be changing their practices as a result of LASPO. Of those a quarter said they would take on new staff, more than double the number that said they would be cutting jobs.
However, despite their confidence in their own businesses, the survey, carried out at last month's ACL conference, suggested costs lawyers remain cautious about the long-term impact of LASPO.
Considerably more believed that the total number of costs lawyers will have fallen in three years' time, 38 per cent compared to 28 per cent.
Those who believed that disputes between solicitors and their clients would rise as a result of the Jackson reforms, went up from 69 per cent to 80 per cent.
The most common mistakes made by solicitors when dealing with costs were 'failing to keep thorough records', thinking 'they can do it themselves' and using costs lawyers 'only when things have gone wrong'.
A smaller proportion of costs lawyers, 38 per cent, said solicitors also made the mistake of using unqualified costs draftsmen.
Read the rest of this article at The Solicitors Journal.