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LSB agrees to ‘no change’ to practising fees

This is, 'in real terms, a reduction,' says Paul Philip

14 August 2015

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Practising fees for solicitors in England and Wales will be unchanged in the coming practising year, the Legal Services Board (LSB) has agreed.

The individual fee will remain at £320, as proposed by the Solicitors Regulation Authority.

Fees for firms are determined by turnover figures. Compensation Fund contributions also remain unchanged at £548 for firms and £32 for individuals.

"We are committed to making it easier for firms to do business, and keeping SRA costs down can only help," said Paul Philip, chief executive of the SRA.

"Maintaining practising fees and Compensation Fund contributions at the current level is, in real terms, a reduction."

The SRA has confirmed that practising certificate renewal will run from 1 to 31 October this year.

Practising fees are set at a level deemed necessary to meet the total funding requirement set by the Law Society Council.

The fees are used to fund the SRA, to pay statutory levies to the Legal Services Board, Legal Ombudsman and the Solicitors Disciplinary Tribunal, and to fund representation by the Law Society that meets the 'permitted purposes' criteria in the Legal Services Act.

Solicitors and firms can get help with their budget planning for next year by using the fees calculator on the SRA website. The calculator and other information on 2015/16 fee determinations can be accessed through the Fees Policy 2015/16 page.

 

 

 

 

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