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Labour leader Ed Miliband rattled some sabres this month when he suggested that a new Labour government would demand that UK overseas territories be put on a ‘tax havens blacklist’ if they failed to cooperate with his drive against tax avoidance. But it’s still a good time to be one of the big offshore law firms. The fallout from the financial crisis may still be a live issue, but their strong performance is providing growth levels way ahead of many among the onshore pack: in a bumper year for the offshore big players, 2014 saw double-digit revenue growth and increased headcount. Furthermore, they are upbeat that their good fortune will continue.

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