SRA New Law Firm

Setting up a law firm is exciting but can be daunting too. We know because we’ve been there – we’ve set up our own practice, twice! Since then, we’ve successfully helped many Enderley clients to become SRA authorised and to establish their own practices, with turnovers ranging from £200,000 to £5 million.

Whether you want to set up a new law firm, incorporate an existing practice, or apply to become an Alternative Business Structure (ABS), we will guide you through the rigorous SRA new firm or ABS application process smoothly and effectively.

As a minimum we will:

• Review your plans and help you decide on the most appropriate structure. The Legal Services Act offers great flexibility in choice of business model and structure, and we can help you decide on the most appropriate model and structure to realise your vision

• Advise on turning your ideas into a business plan and financial projections which will impress the SRA

• Assist you with obtaining professional indemnity insurance – you will need a PII quote or certificate for your SRA application

• Calculate the SRA application fee (please note that SRA fees are not included in our pricing)

• Complete SRA forms FA1, FA2, FA3, FA6, FA8, FA10 as appropriate to your application

• Project manage your application, including collating supporting documentation such as business structure charts, cvs of key stakeholders and DBS checks

• Liaise with the SRA throughout

We can also offer additional support, including:

• Drafting your business plan and financial projections

• Providing you with essential risk management policies and procedures and terms of business, or a complete Lexcel/CQS compliant risk manual

• Preparing documentation for COLP and COFA, including our unique compliance plan and COLP and COFA active monitoring system and a high-level risk register for the firm

• Defining exit strategies – you will need a succession plan

How long will it take to become authorised? 

Our part - Preparation is key. 

We aim to speed the process as far as possible through a structured and organised approach, ensuring that all the required information is included when you submit the application to avoid delays at a later stage.

Once you’ve provided us with all the information we need, we will prepare the application within a month. If your application is urgent, we will expedite the process.

The SRA’s part 

The SRA’s target is to process and authorise new law firm applications within 3 to 4 months (or up to 6 months for ABS applications), but SRA authorisation will typically be decided within two months (or 2 to 3 months for ABSs).  

We will guide and support you throughout, helping you answer the SRA’s questions and liaising with them as needed.