[;BEGIN MATTER INSERTED ON 6 OCTOBER 2011;] The Solicitors' Accounts Rules 1998 have been replaced on the 6 October 2011 by the SRA Accounts Rules 2011 as part of the introduction of outcomes-focused regulation. [;END INSERTED MATTER;]
Go to SRA Handbook
[;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;] Appendix 2 of the Solicitors' Accounts Rules was amended on 31 March 2009 as part of a general updating of the rules to introduce firm-based regulation and legal disciplinary practices as provided for in the Legal Services Act 2007. [;END INSERTED MATTER;]
No
Yes–r.32(7)
Yes–r.32(1) and (2)
Yes–r.32(9)
Yes–r. 42 - same as for client money
Yes–r.34
All interest goes to trust
Bills–r.32(8)
Yes–r.42(1)(f)–same as for client money
Yes–r.42 - same as for client money
Yes
Yes–r.32(1)(a) and 32(2)
Yes–r.24
Statements or register–r.32(11), bills–r.32(8)
Yes–r.42(1)(f)
No–record solicitor's receipt and payment only
No–all interest earned for client–r.24, note(iii)
No–except record of solicitor's receipt and payment
Yes–r.33
Limited–r.42(1)(n)
Yes–r.11
Statements–r.33, Bills–r.32(8)
Yes–r.9
No–r.9
Modified–statutory records–r.9
Yes–r.9 and r.32(9)(c)
Limited–r.42(1)(l)
No–r.9–comply with statutory rules
Yes–modified r.32(9)(c)
Yes–r.32(12); Bills–r.32(8)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Will be either client money or controlled trust money [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Yes–r.9 [;END INSERTED MATTER;]
No - r.9
Yes–r.10
No–r.10
Yes–r.10 and 32(9)(b)(ii)
Limited–r.42(1)(m)
No. For joint a/c with client, all interest to client (r.24, note(ix)); for joint a/c with sol. depends on agreement
Statements–r.32(13); Bills–r.32(8)
No–all interest earned for client (r.24, note(iii))
No–r.11
Statements–r.33; Bills–r. 32(8)
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