The 2021 Guideline Hourly Rates (GHR) for solicitors came into force on 1 October 2021. What does that mean? Champagne and oysters for those receiving costs? Poverty and penury for those paying costs? As with most things legal, it is not as clear cut as that!
“I want better legal support that is cost effective, quick and fit for purpose.” Roni Savage, Founder of Jomas Associates told BBC News recently. She went on to explain that 40% of her clients pay late, with up to 10% failing to pay at all. Talk to any SME (small and medium size enterprise) founder and they will recount a similar tale, though they may say it at a whisper. For any business the problems of late and non-payments are troubling, but for small businesses they can be crippling.
It may appear tedious to keep the drum banging about proportionality and reasonableness, but it is important to understand these concepts whilst considering organic growth and development in costs law and practice. This is especially true with changes such as the recent ratification of the revisions to Guideline Hourly Rates. Continue reading
