Is a CQS audit heading your way? Why the answer is probably yes

Facebook Linkedin Instagram Is a CQS audit heading your way? Why the answer is probably yes The Law Society has long signalled its intention to audit every CQS-accredited firm. The evidence on the ground suggests that intention is now becoming reality – and many firms are not as ready as they think. If you hold […]

The taxing issue of VAT on disbursements

Facebook Linkedin Instagram The taxing issue of VAT on disbursements In keeping with this month’s theme of accounting matters, VAT on disbursements remains a thorny issue, and in talking to our clients we have detected considerable uncertainty and inconsistency. Some do charge VAT: others don’t. HMRC requires certain criteria to be met if a payment […]

SRA Money Laundering Sectoral Risk Assessment

Facebook Linkedin Instagram SRA Money Laundering Sectoral Risk Assessment The SRA (as supervisor of AML compliance in authorised firms) has recently published its updated money laundering sectoral risk assessment. Drawing on the latest UK Government National Risk Assessment, this document identifies the risks that law firms are most likely to encounter. Why does this matter? […]

SRA Accounts rules: residual balances

Facebook Linkedin Instagram Solicitors Accounts Rules: Residual balances This month we draw attention to SRA Accounts Rule 2.5, which requires firms to return client money as soon as there is no proper reason to hold it. It’s common to have small amounts left at the end of a transaction, i.e. because of late estate realisations […]

Companies House update – rate increase and ECCTA reminder

Companies House update: Fee increases and ECCTA reminder As from 1 May 2024 Companies House is increasing its fees – please see the new tariff. It’s really important to send the correct fee, especially on time-critical applications such as the registration of company charges, else Companies House will reject the application and you will have […]