Solicitors

Solicitors' accounts are regulated by the Law Society and must be compliant with the Solicitors' Accounts Rules.

At Robertshaw Myers we have the necessary experience and skills to assist in preparing and submitting the necessary Accountant's Report as required by the Law Society. The report to the Law Society on the firm's compliance is submitted by the reporting accountant along with a checklist to the solicitor stating the outcome of the SAR audit. The Law Society places great reliance on the SAR audit to gain assurance that solicitors are complying with the SAR and that client monies are being safeguarded.

We are able to offer sector specific advice including business development, accountancy and taxation services. We can also advise on the optimal structure for your practice - sole practitioner, partnership or limited liability partnership.

Using our knowledge and experience, we are not only able to prepare the documents that are required by HMRC and The Law Society but can suggest ways in which the systems and controls can be changed so that they become more efficient on an ongoing basis.

Under rule 35 of the Solicitors Accounts Rules (amended 31 March 2009) every solicitor who deals with client money are required to undergo an SAR audit on an annual basis by a firm of specialist solicitor accountants. To check if this applies to you, follow the link to the SRA website and Rule 35.

This report is sent to the solicitor once a year, at the end of the accounting period, by the Law Society. It is due within 6 months of the year end and covers a 12 month period in most cases. As per Rule 37, a solicitor's accounts report must be prepared and signed by an accountant who is a member of one of the authorised professional accountancy organisations and who is also a registered auditor with one of those organisations.  

Using our extensive knowledge and experience, we are not only able to prepare the documents that are required by HMRC and The Law Society but can provide recommendations as to how your systems and controls can be updated so that they become more efficient on a continual basis.

Our specialist accounting, business advisory and tax services to legal firms include:

  • Preparation and audit of statutory financial statements ensuring compliance with Solicitor Accounts Rules
  • Accountancy and technical support
  • Internal audit reviews and reporting, including governance best practice
  • Personal tax services - specifically directed at partners and partnerships
  • LLP conversions
  • Strategic planning and management consultancy - to help you build a more profitable and efficient firm
  • Merger integration - streamline the process, create harmony and win support
  • Financial training and development

Contact us

To discuss the needs of your legal practice, please contact a member of our Legal Services team or send us an enquiry online.