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published before the introduction of the SRA Handbook on 6 October 2011, and may refer to regulatory material that is no longer in effect.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.
Can I transfer my costs from monies held in my client account to office account without the consent of my client?
Are you holding the funds for a specific purpose (e.g. deposit for house purchase)?
If Yes: The funds are not available to be earmarked for costs, and you cannot transfer without the consent of your client.
If No: The funds can be earmarked for costs. You do not need the consent of your client, but you must comply with rules 17.2 and 17.3 of the accounts rules.