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The primary objective of the Solicitors’ Accounts Rules is to protect clients’ interests by regulating the custody and protection of clients’ money.
The rules stipulate compliance procedures designed to minimise the risk of a solicitor mixing monies belonging to clients with those of the practice.
The rules also seek to ensure the fair treatment of clients’ money by the payment of interest and apply, with slight modification, to controlled trust money.
The Law Society requires an annual report from a qualified accountant in respect of every solicitor who handles clients’ money, to confirm that they have complied with the Rules.
Our Solicitors’ Accounts Rules Programme is designed to work closely with you in:
Read more about our Solicitors’ Accounts Rules Programme here.
14 Dec 2018
A poll commissioned by insurance firm Aon has suggested that UK small and medium-sized enterprises (SMEs) are 'unmindful of the risks' that cyber-attacks and data breaches pose to their business.
13 Dec 2018
In his draft Budget, Derek Mackay, the Finance Secretary for Scotland, outlined his plans for Scottish taxation and spending.
12 Dec 2018
The Association of Chartered Certified Accountants (ACCA) has published a report calling on governments to help tackle climate change by redesigning their tax systems.
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