FAQ
Important: The FAQs below were written and published before the introduction of the SRA Handbook on 6 October 2011, and may refer to regulatory material that is no longer in effect. Although they may still be relevant, these FAQs have not yet been reviewed in light of the wide-ranging regulatory changes implemented on 6 October. They will be reviewed and updated (or archived) in due course.
The provisions in rule 19 of the accounts rules for the treatment of payments from the Legal Services Commission allows me to operate my legal aid practice without a client account. Do I need to submit an accountant's report?
Have you held or received client money—for example, in the form of unpaid professional disbursements?
If Yes: Notwithstanding that rule 19 allows a solicitor to hold client money from the Legal Services Commission in an office account, the solicitor must submit an accountant's report (rule 32.1).
If No: There is no requirement to submit an accountant's report to the SRA unless the SRA specifically requires delivery of a report in accordance with powers under rule 32.2.