Solicitor Accounts

Solicitors are regulated by the Law Society and Solicitors Accounts Rules 1998 and the Solicitors Accounts Amendment Rules 2008 (effective 14 July 2008). As a result they must maintain adequate systems to ensure that they comply with the SARís detailed and complex rules in relation to the holding of client money. Failure to comply with these rules can have potentially serious consequences.

An Accountants Report (AR) needs to be submitted to the Law Society no later than 6 months after the end of the Accounting Period (AP).

Our work with solicitors includes:

  1. Solicitors Accounts Rule (SAR) reports
  2. UITF 40
  3. Partner personal tax
  4. Incorporation or Limited Liability Partnerships
  5. Partnerships changes
  6. Remuneration
  7. Practice finance
  8. Property