Latest News (14/06/2010)
The Solicitors' Accounts Rules (SAR) one-day
course described below is now being provided for firms on an in-house basis.
The course includes -
-
An
overview of all the SAR’s to enable solicitors’ staff to find
their own way around as needed in their work.
-
Recent (and future) changes An explanation of the nature and
affect of the recent amendments. These include the need to deal with the
problem of old balances by paying closing balances promptly and
by other new measures (effective from 14-07-08); the introduction of
legal disciplinary practices (LDP’s) and outcomes-focussed
regulation, abolition of the concept “controlled trust” and of
interest certificates (all effective from 31-03-09). A look ahead to
alternative business structures (ABS’s) due to be permissible from
end 2011.
- The
basic Rules that accounts staff will be using daily. This
is the core of the course and will cover client money and
office money, requirements for a client (bank) account,
paying money into and taking money out of a client account, receipt and
transfer of costs, and record keeping (SAR’s require double-entry
bookkeeping).
-
After lunch workshop to enable attendees to discuss and
query what has been dealt with so far, and to raise other questions
arising from their work.
-
Bookkeeping and VAT aspects which flow naturally from a
practical study of the SAR’s, including the VAT treatment of expenses
and disbursements.
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Materials Those attending will receive a printout of the
PowerPoint images+ set of notes+copy of the latest version of the
Solicitors’ Accounts Rules