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Peninsula Business Services, one of the largest unregulated providers of legal services in the country, has blamed Solicitors Regulation Authority rules for scuppering its plans to set up an alternative business structure. The company provides employment law, HR and health and safety advice to over 30,000 small businesses in the UK.

A former high-flying banker, who worked at Lehman Brothers before the crash, has told Legal Futures how he developed a plan to set up a pioneering alternative business structure while travelling in Vietnam. Zahid Hussein said he wants Z Group to be an integrated one-stop shop for SMEs.

The number of accountancy firms authorised or licensed by the Institute of Chartered Accountants in England and Wales (ICAEW) to provide probate services has passed 100. The ICAEW has predicted that it will reach 200 by the end of the year.

An ambitious Merseyside practice has obtained an alternative business structure licence as part of plans to start a round-the-clock “concierge service for SMEs”, and to kick-start its overseas expansion into southern Spain, targeting the British ex-pat community.

External investment rather than the number of alternative business structures is the key to changing the legal profession, a former president of the Law Society has said. Meanwhile, well-known ABS Knights has changed structure to retain more of its profit.