Solicitors' Accounts Rules: guidance and forms
Important: The guidance below was written and issued before the introduction of the SRA Handbook on 6 October 2011, and may refer to regulatory material that is no longer in effect. Although it may still be relevant, this guidance has not yet been reviewed in light of the wide-ranging regulatory changes implemented on 6 October. It will be reviewed and updated (or archived) in due course.
Applications to withdraw money from client account – notes for applicants
Last updated 6 November 2009
- To make an application under rule 22(1)(h), please write to the Solicitors Regulation Authority, Professional Ethics, Ipsley Court, Berrington Close, Redditch B98 OTD or DX 19114 Redditch. Alternatively, you can email us. You will also need to submit the SAR rule 22(1)(h) Application/Information form.
- You will need to show what attempts have been made to trace the rightful owner(s). Depending on the circumstances, we may ask for further attempts to be made, unless we believe the reasonable costs of doing so are likely to be excessively high in relation to the money held.
- The length of time the money has been held is a factor that we may take into account. Other factors may also lead a decision-maker to suggest that further attempts should be made to trace the rightful owner(s).
- A decision maker may not always require an accountant's letter—if, for example, the circumstances do not appear to warrant it, or the cost of the accountant's letter is excessively high in relation to the money held.
- In relation to the administration of an estate or trust, it will normally be the executors, administrators or trustees, or the Court, that have authority to deal with unpaid money. You should satisfy yourself as to any legal requirements in relation to the money.
- Any monies due to a dissolved company may be bona vacantia and payable to the Treasury Solicitor under the provisions of the Companies Act. Please clarify the situation with the Treasury Solicitor's Department before you make an application under rule 22(1)(h).
- If the SRA grants an authority, you will nevertheless remain liable to account to a rightful claimant, if such a claimant reappears or is traced.
- If authority is granted such that it allows you to close your client account, you must continue to deliver accountants' reports up to the date you cease to hold client money. For advice please contact the Professional Ethics helpline.