The Gazette 1978

JANUARY/FEBRUARY 1978

GAZETTE

SOCIETY OF YOUNG SOLICITORS

EVENING DISCUSSIONS

SPRING SEMINAR

On Monday, 16th January, the Society met with the Junior Organisation of Chartered Surveyors and the Leinster Society of Chartered Accountants at Jury's Hotel for an evening discussion on Wealth Tax. Mr. John Blake of Craig Gardner & Company, speaking for the Chartered Accountants, considered the basis of Wealth Tax Assessment, touching in particular on the exemptions and concessions given under the Wealth Tax Act in the manner in which liability to Wealth Tax could be reduced. Mr. Ray Ward of Lisney's, speaking on behalf of the Junior Organisation considered the difficulties of making valuations. Although the Act provided for self assessment of Wealth Tax, it was necessary for people to base their assessment on the Market value of the property and he touched on the problems inherent in arriving at any fair valuation. Mr. John Ross, Solicitor of Matheson, Ormsby & Prentice, speaking for the Society of Young Solicitors, emphasised the obligations on solicitors to advise their clients of the necessity of making returns to the Revenue and in particular of warning clients when a change of circumstances might result in the client not being able to claim an exemption or concession to which he had been entitled. He instanced the case of a farmer entering into a contract for the sale of his farm before the 5th April, but not entering into a contract for the purchase of a new farm until after 5th April had elapsed. The farmer would, he suggested, be no longer a farmer within the definition of the Act on 5th April as he would only be entitled to the proceeds of sale. A general discussion which followed the three introductory papers tended to range over Capital Taxes generally and in particular over the substantial liability which could arise in the liquidation of companies and the importance in particular for purchasers of companies or their subsidiaries to analyse fully the extent of the tax liability which they might be taking over. Arrangements are being made for further Evening Discussions with members of other professions to be held in the near future. Force of circumstances require these evening discussions to be held in Dublin. The Committee would welcome any suggestions for meetings with other Societies and the topics which might be considered.

The Spring Seminar is scheduled to take place on the week-end of 8th/9th April 1978, at the Great Southern Hotel, Killarney. The Committee of the Society has felt that it would be well worthwhile to have a Seminar primarily devoted to the lot of the solicitor in his profession and the Seminar has been devised accordingly. The topics which have been selected for the Seminar are as follows:—

Speaker Walter G. Semple, Charles Meredith, Solicitor Diarmuid Murray,

Topic 1. Partnership in a Legal Practice 2. The Solicitor as the Conscience of his Client. 3. The Solicitor and Personal Taxation. 4. Drawing of Costs.

Solicitor (Glasgow)

Chartered Accountant.

Anthony P. Behan,

Legal Costs Drawer. All lectures will be held in the Conference Area of the Great Southern Hotel.

Rates: The rates for the Spring Seminar are:

Friday night to Sunday Lunch

£24.00 £4.00

Registration Fee

Application forms for the Seminar will be sent out to all members of the profession four weeks before the Seminar takes place and those intending to travel to the Seminar are asked to complete the application forms in the prescribed manner and return them as soon thereafter as possible.

Special carriages are being reserved on the Dublin/Killarney train on Friday evening. Those intending to travel by train are asked to indicate their intention of so doing on the application form as the number of carriages reserved will depend on the number of applicants.

ACTUARIAL ASSESSMENT OF DAMAGES

At the Society's Seminar in Sligo in October 1977, Peter Delaney, FIA, gave a Lecture on this subject. He made it clear at the outset that he was confining himself to the role of the Actuary as seen by the Supreme Court in relation to the Civil Liability Act 1961. 13

Alternative accommodation will be available in the event of there being insufficient accommodation at the Great Southern Hotel.