Change tracker - Code of Content
Appendix 2 – Special Situations - What Applies
2008-07-14T00:00:00Z
[;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;]
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]1 - Controlled trust money in client a/c–r.15(1) [;END DELETED MATTER;]
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Is it client money? [;END DELETED MATTER;]
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to reconciliations? [;END DELETED MATTER;]
Yes–r.32(7)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Keep books? [;END DELETED MATTER;]
Yes–r.32(1) and (2)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Retain statements? [;END DELETED MATTER;]
Yes–r.32(9)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to accountant's report? [;END DELETED MATTER;]
Yes–r. 42 - same as for client money
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Produce records to Law Society [;END DELETED MATTER;]
Yes–r.34
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit interest [;END DELETED MATTER;]
All interest goes to trust
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Retain records generally? [;END DELETED MATTER;]
Yes–r.32(9)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Central records? [;END DELETED MATTER;]
Bills–r.32(8)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to reporting accountant's comparisons? [;END DELETED MATTER;]
Yes–r.42(1)(f)–same as for client money
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]2 - Controlled trust money held outside a client account–r.18 [;END DELETED MATTER;]
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Is it client money? [;END DELETED MATTER;]
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to reconciliations? [;END DELETED MATTER;]
Yes–r.32(7)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Keep books? [;END DELETED MATTER;]
Yes–r.32(1) and (2)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Retain statements? [;END DELETED MATTER;]
Yes–r.32(9)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to accountant's report? [;END DELETED MATTER;]
Yes–r.42 - same as for client money
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Produce records to Law Society [;END DELETED MATTER;]
Yes–r.34
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit interest [;END DELETED MATTER;]
All interest goes to trust
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Retain records generally? [;END DELETED MATTER;]
Yes–r.32(9)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Central records? [;END DELETED MATTER;]
Bills–r.32(8)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to reporting accountant's comparisons? [;END DELETED MATTER;]
Yes–r.42(1)(f)–same as for client money
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]3 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]1 [;END INSERTED MATTER;] - R.16(1)(a) a/cs in solicitor's name (not client a/c)
Is it client money?
Yes
Subject to reconciliations?
Yes
Keep books?
Yes–r.32(1)(a) and 32(2)
Retain statements?
Yes–r.32(9)
Subject to accountant's report?
Yes
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
Yes–r.24
Retain records generally?
Yes–r.32(9)
Central records?
Statements or register–r.32(11), bills–r.32(8)
Subject to reporting accountant's comparisons?
Yes–r.42(1)(f)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]4 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]2 [;END INSERTED MATTER;] - R.16(1)(b) a/cs in name of client–not operated by solicitor
Is it client money?
No
Subject to reconciliations?
No
Keep books?
No–record solicitor's receipt and payment only
Retain statements?
No
Subject to accountant's report?
No
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No–all interest earned for client–r.24, note(iii)
Retain records generally?
No–except record of solicitor's receipt and payment
Central records?
Bills–r.32(8)
Subject to reporting accountant's comparisons?
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]5 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]3 [;END INSERTED MATTER;] - R.16(1)(b) a/cs in name of client–operated by solicitor
Is it client money?
No
Subject to reconciliations?
No
Keep books?
No–record solicitor's receipt and payment only
Retain statements?
Yes–r.33
Subject to accountant's report?
Limited–r.42(1)(n)
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes–r.11
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No–all interest earned for client–r.24, note(iii)
Retain records generally?
No–except record of solicitor's receipt and payment
Central records?
Statements–r.33, Bills–r.32(8)
Subject to reporting accountant's comparisons?
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]6 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]4 [;END INSERTED MATTER;] - Liquidators, trustees in bankruptcy and Court of Protection deputies
Is it client money?
Yes–r.9
Subject to reconciliations?
No–r.9
Keep books?
Modified–statutory records–r.9
Retain statements?
Yes–r.9 and r.32(9)(c)
Subject to accountant's report?
Limited–r.42(1)(l)
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes–r.9
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No–r.9–comply with statutory rules
Retain records generally?
Yes–modified r.32(9)(c)
Central records?
Subject to reporting accountant's comparisons?
No–r.9
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]7 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]5 [;END INSERTED MATTER;] - Trustees of occupational pension schemes
Is it client money?
[;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;]
Subject to reconciliations?
No–r.9
Keep books?
Modified–statutory records–r.9
Retain statements?
Yes–r.9 and r.32(9)(c)
Subject to accountant's report?
Limited–r.42(1)(l)
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes–r.9
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No–r.9–comply with statutory rules
Retain records generally?
Yes–modified r.32(9)(c)
Central records?
Subject to reporting accountant's comparisons?
No - r.9
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]8 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]6 [;END INSERTED MATTER;] - Joint accounts–r .10
Is it client money?
Yes–r.10
Subject to reconciliations?
No–r.10
Keep books?
No–r.10
Retain statements?
Yes–r.10 and 32(9)(b)(ii)
Subject to accountant's report?
Limited–r.42(1)(m)
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes–r.10
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No. For joint a/c with client, all interest to client (r.24, note(ix)); for joint a/c with sol. depends on agreement
Retain records generally?
No–r.10
Central records?
Statements–r.32(13); Bills–r.32(8)
Subject to reporting accountant's comparisons?
No–r.10
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]9 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]7 [;END INSERTED MATTER;] - Solicitor acting under power of attorney
Is it client money?
Yes
Subject to reconciliations?
Yes
Keep books?
Yes
Retain statements?
Yes
Subject to accountant's report?
Yes
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
Yes
Retain records generally?
Yes
Central records?
Bills–r.32(8)
Subject to reporting accountant's comparisons?
Yes
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]10 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]8 [;END INSERTED MATTER;] - Solicitor operates client's own a/c e.g. under power of attorney–r.11
Is it client money?
No
Subject to reconciliations?
No
Keep books?
No
Retain statements?
Yes–r.33
Subject to accountant's report?
Limited–r.42(1)(n)
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes–r.11
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No–all interest earned for client (r.24, note(iii))
Retain records generally?
No–r.11
Central records?
Statements–r.33; Bills–r. 32(8)
Subject to reporting accountant's comparisons?
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]11 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]9 [;END INSERTED MATTER;] - Exempt solicitors under r.5
Is it client money?
No
Subject to reconciliations?
No
Keep books?
No
Retain statements?
No
Subject to accountant's report?
No
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No
Retain records generally?
No
Central records?
No
Subject to reporting accountant's comparisons?
7/1/2007 12:00:00 AM
Appendix 2 – Special Situations - What Applies
2008-07-14T00:00:00Z
[;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;]
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]1 - Controlled trust money in client a/c–r.15(1) [;END DELETED MATTER;]
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Is it client money? [;END DELETED MATTER;]
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to reconciliations? [;END DELETED MATTER;]
Yes–r.32(7)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Keep books? [;END DELETED MATTER;]
Yes–r.32(1) and (2)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Retain statements? [;END DELETED MATTER;]
Yes–r.32(9)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to accountant's report? [;END DELETED MATTER;]
Yes–r. 42 - same as for client money
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Produce records to Law Society [;END DELETED MATTER;]
Yes–r.34
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit interest [;END DELETED MATTER;]
All interest goes to trust
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Retain records generally? [;END DELETED MATTER;]
Yes–r.32(9)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Central records? [;END DELETED MATTER;]
Bills–r.32(8)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to reporting accountant's comparisons? [;END DELETED MATTER;]
Yes–r.42(1)(f)–same as for client money
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]2 - Controlled trust money held outside a client account–r.18 [;END DELETED MATTER;]
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Is it client money? [;END DELETED MATTER;]
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to reconciliations? [;END DELETED MATTER;]
Yes–r.32(7)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Keep books? [;END DELETED MATTER;]
Yes–r.32(1) and (2)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Retain statements? [;END DELETED MATTER;]
Yes–r.32(9)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to accountant's report? [;END DELETED MATTER;]
Yes–r.42 - same as for client money
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Produce records to Law Society [;END DELETED MATTER;]
Yes–r.34
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit interest [;END DELETED MATTER;]
All interest goes to trust
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Retain records generally? [;END DELETED MATTER;]
Yes–r.32(9)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Central records? [;END DELETED MATTER;]
Bills–r.32(8)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Subject to reporting accountant's comparisons? [;END DELETED MATTER;]
Yes–r.42(1)(f)–same as for client money
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]3 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]1 [;END INSERTED MATTER;] - R.16(1)(a) a/cs in solicitor's name (not client a/c)
Is it client money?
Yes
Subject to reconciliations?
Yes
Keep books?
Yes–r.32(1)(a) and 32(2)
Retain statements?
Yes–r.32(9)
Subject to accountant's report?
Yes
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
Yes–r.24
Retain records generally?
Yes–r.32(9)
Central records?
Statements or register–r.32(11), bills–r.32(8)
Subject to reporting accountant's comparisons?
Yes–r.42(1)(f)
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]4 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]2 [;END INSERTED MATTER;] - R.16(1)(b) a/cs in name of client–not operated by solicitor
Is it client money?
No
Subject to reconciliations?
No
Keep books?
No–record solicitor's receipt and payment only
Retain statements?
No
Subject to accountant's report?
No
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No–all interest earned for client–r.24, note(iii)
Retain records generally?
No–except record of solicitor's receipt and payment
Central records?
Bills–r.32(8)
Subject to reporting accountant's comparisons?
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]5 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]3 [;END INSERTED MATTER;] - R.16(1)(b) a/cs in name of client–operated by solicitor
Is it client money?
No
Subject to reconciliations?
No
Keep books?
No–record solicitor's receipt and payment only
Retain statements?
Yes–r.33
Subject to accountant's report?
Limited–r.42(1)(n)
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes–r.11
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No–all interest earned for client–r.24, note(iii)
Retain records generally?
No–except record of solicitor's receipt and payment
Central records?
Statements–r.33, Bills–r.32(8)
Subject to reporting accountant's comparisons?
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]6 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]4 [;END INSERTED MATTER;] - Liquidators, trustees in bankruptcy and Court of Protection deputies
Is it client money?
Yes–r.9
Subject to reconciliations?
No–r.9
Keep books?
Modified–statutory records–r.9
Retain statements?
Yes–r.9 and r.32(9)(c)
Subject to accountant's report?
Limited–r.42(1)(l)
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes–r.9
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No–r.9–comply with statutory rules
Retain records generally?
Yes–modified r.32(9)(c)
Central records?
Subject to reporting accountant's comparisons?
No–r.9
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]7 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]5 [;END INSERTED MATTER;] - Trustees of occupational pension schemes
Is it client money?
[;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;]
Subject to reconciliations?
No–r.9
Keep books?
Modified–statutory records–r.9
Retain statements?
Yes–r.9 and r.32(9)(c)
Subject to accountant's report?
Limited–r.42(1)(l)
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes–r.9
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No–r.9–comply with statutory rules
Retain records generally?
Yes–modified r.32(9)(c)
Central records?
Subject to reporting accountant's comparisons?
No - r.9
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]8 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]6 [;END INSERTED MATTER;] - Joint accounts–r .10
Is it client money?
Yes–r.10
Subject to reconciliations?
No–r.10
Keep books?
No–r.10
Retain statements?
Yes–r.10 and 32(9)(b)(ii)
Subject to accountant's report?
Limited–r.42(1)(m)
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes–r.10
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No. For joint a/c with client, all interest to client (r.24, note(ix)); for joint a/c with sol. depends on agreement
Retain records generally?
No–r.10
Central records?
Statements–r.32(13); Bills–r.32(8)
Subject to reporting accountant's comparisons?
No–r.10
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]9 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]7 [;END INSERTED MATTER;] - Solicitor acting under power of attorney
Is it client money?
Yes
Subject to reconciliations?
Yes
Keep books?
Yes
Retain statements?
Yes
Subject to accountant's report?
Yes
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
Yes
Retain records generally?
Yes
Central records?
Bills–r.32(8)
Subject to reporting accountant's comparisons?
Yes
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]10 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]8 [;END INSERTED MATTER;] - Solicitor operates client's own a/c e.g. under power of attorney–r.11
Is it client money?
No
Subject to reconciliations?
No
Keep books?
No
Retain statements?
Yes–r.33
Subject to accountant's report?
Limited–r.42(1)(n)
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
Yes–r.11
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No–all interest earned for client (r.24, note(iii))
Retain records generally?
No–r.11
Central records?
Statements–r.33; Bills–r. 32(8)
Subject to reporting accountant's comparisons?
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]11 [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]9 [;END INSERTED MATTER;] - Exempt solicitors under r.5
Is it client money?
No
Subject to reconciliations?
No
Keep books?
No
Retain statements?
No
Subject to accountant's report?
No
Produce records to [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]SRA [;END INSERTED MATTER;] [;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Law Society [;END DELETED MATTER;]?
No
[;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]Deposit [;END DELETED MATTER;][;BEGIN MATTER DELETED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]i [;END DELETED MATTER;] [;BEGIN MATTER INSERTED ON 31 MARCH 2009 BY THE SOLICITORS' ACCOUNTS (LEGAL SERVICES ACT) AMENDMENT RULES 2009;]I [;END INSERTED MATTER;]nterest?
No
Retain records generally?
No
Central records?
No