A revised approach to regulation

In his Chartered Tax Advisers’ Address, Stephen Mayson examined the future regulation of legal services and its possible application to tax advice

Professor Stephen Mayson is a barrister and legal commentator who recently concluded a two-year assessment of the regulation of legal services in England and Wales. This article is abridged from his CTA Address speech. 

My subject is the future regulation of legal services and its possible application to tax advice and advisers. I have recently submitted a report to the Lord Chancellor following a two-year independent review of legal services regulation. The recommendations cover both long-term and short-term reform. 

When I began the review in 2018, I knew that reform for the longer term was not likely in the near future. However, the Covid-19 pandemic has further highlighted the present difficulties. I hope that short-term reform might soon be considered.