SRA Handbook

Accounting records for clients' own accounts

Version 21 of the Handbook was published on 6 December 2018. For more information, please click "History" above.

Rule 30: Accounting records for clients' own accounts

30.1

When you operate a client's own account as signatory under rule 10, you must retain, for at least six years from the date of the last entry, the statements or passbooks as printed and issued by the bank, building society or other financial institution, and/or the duplicate statements, copies of passbook entries and cheque details permitted in lieu of the originals by rule 10.3 or 10.4; and any central register kept under rule 30.2 below.

30.2

You must either keep these records together centrally, or maintain a central register of the accounts operated under rule 10.

30.3

If you use on-line records made available by the bank, building society or other financial institution, you must save an electronic version in the firm's accounting records in a format which cannot be altered. There is no obligation to keep a hard copy but the information recorded must be capable of being reproduced reasonably quickly in printed form for at least six years.

30.4

If, when you cease to operate the account, the client requests the original statements or passbooks, you must take photocopies and keep them in lieu of the originals.

30.5

This rule applies only to private practice.

Print page to PDF