SRA Accounts Rules

You may need legal advice on Accounts issues which throw up legal, regulatory and conduct questions.  We advise firms, and we represent them on investigations by the SRA.  We deal with issues such as:

  • Is the service my client is seeking a prohibited banking service?
  • What penalty can we expect from the SRA, for failing to clear balances on client account promptly on the conclusion of a file?
  • Will the SRA object to ‘sweeping up’ bills to clear small balances on client account?
  • What steps must we take if we discover that a member of staff has stolen money from client account?
  • What must we say about interest on money in client account, in our terms of business and in our policies?
  • When can we charge clients for overheads, such as internal photocopying? If we have charged them wrongly, must we contact all the clients?
  • What action will the SRA take if a fee-earner has mis-described disbursements?
  • Can we use disbursements to fund our practice?

We also deal with Accounts issues that arise in Professional Indemnity policy coverage disputes, when the question may arise as to whether and to what extent financial losses are covered under the policy.

Key Contact

Francis Dingwall

For specialist legal advice on SRA Accounts Rules please contact Francis.

0345 330 6791 [email protected]