Liberate Legal Accounts and SAR Amendments
27th October 2008
The Solicitors’ Accounts (Residual Client Account Balances) Amendment Rules 2008 amend the Solicitors’ Accounts Rules 1998 (SAR) with effect from 14 July 2008.
The July amendments introduce specific obligations for the prompt return of surplus client funds and include procedures for reporting to clients if funds are retained. The amendments also permit solicitors to deal with withdrawal of smaller residual client balances themselves, without recourse to the SRA.
The legal accounts module of Liberate, the suite of legal sector products developed and supplied by Linetime, is designed to be fully SAR compliant. Liberate users obtain all legislative amendments under their annual support and product maintenance contract, at no additional charge.
For more details on the SAR, including these latest amendments please follow the link provided - www.sra.org.uk/accounts-rules
If you would like more information on the Liberate legal accounting product please contact Keith Hutton on 0113 250 0020 or email keithh@linetime.co.uk.
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