Solicitors' Accounts Rules (SAR)

Legal practices are unique in that they require specialist attention from their accountants, and this is why we have a dedicated team structured and trained to deal with the issues that face this particular sector. We aim to be your all round practice advisors not just your accountant.

As a firm we are well equipped to deal with the accounting and taxation issues of both the practice as a whole and of the individual partners, providing both compliance services and guidance and support on everyday issues that face the practice.

We are able to offer sector specific advice including business development, partner admission and changes in partnership structures and can also advise on the optimal structure for your practice – sole practitioner, partnership or limited liability partnership.

Solicitors, being regulated by the Solicitors Regulatory Authority, must be compliant with the very strict and comprehensive Solicitors’ Accounts Rules in respect of the way in which they handle client money. 

At Locke Williams Associates, we are fully conversant with the rules and can provide invaluable guidance on the implementation of controls and procedures to ensure that the firm is acting within the guidelines. We can also conduct the SAR audit and prepare and submit the necessary Accountant’s Report as required by the SRA annually.

In addition Locke Williams Associates is unique in that it is also able to offer help and advice to your clients, in matters relating to valuations on divorce, forensic accounting, personal tax issues, inheritance tax and trusts and estates. We can work together to deliver these services to our mutual clients.

Please contact Chris or Katrina today for more information.