STREAMLINING REGULATIONS

The Council for Licensed Conveyancers (CLC) has set out plans for streamlining the handling of client money. A consultation, which is open for responses until 5.00pm Friday 21 June 2019, proposes to reduce the time limit on practices for delivering an Accountant's Report from six to three months. It also wants to enable practices to move aged balances of up to £50 into their office account when the client cannot be located and donate any sums up to £10 to a nominated charity. Firms will still to be liable to account for those funds if the client subsequently makes a claim. 17 April 2019