Blog.

In recent years, the legal press has consistently highlighted concerns around the extent to which some law firms  overly rely on client account interest  to supplement operating income. While this approach may previously have provided a degree of financial flexibility, recent developments, particularly those proposed in the Ministry of Justice reforms , have increased scrutiny of its sustainability. Against a backdrop of wider economic and regulatory pressure, firms are being

So many questions but is the MOJ’s solution the right answer? The debate over the treatment of interest earned on client money continues to gather momentum. Following scrutiny by the Solicitors Regulation Authority last year, the proposed Ministry of Justice (MoJ) reforms, outlined in the Pye Tait Research Report ,  would materially alter how interest on lawyers’ client accounts is allocated.   The MoJ has opened a consultation , running until 9 th  February 2026 , on proposa

FSCS Protection Announcement 18/11/2025 The Prudential Regulation Authority (PRA) has confirmed that the Financial Services Compensation Scheme (FSCS) deposit protection limits will increase from 1 December 2025. While most firms will focus on updating client documentation, there are wider operational matters that deserve closer attention. What is the FSCS? The Financial Services Compensation Scheme (FSCS) protects consumers authorised financial institutions fail. Establishe

In an increasingly competitive legal market, law firms face mounting financial pressures from managing working capital and funding...

In the current economic climate, many law firms are facing a growing challenge: banks are reducing interest rates  on client accounts,...

Strengthen Your Law Firm’s Financial Stability. Four Expert Tools, One Hour Well Spent…Now may be the time to act!

What Law Firms Need to Know From 1st May 2025 , UK banks will require the inclusion of purpose codes for all payments made through the...

The legal sector faces constant uncertainties, but one challenge remains unavoidable—covering the cost of Professional Indemnity (PI)...

On Friday, 31st January, a major UK bank experienced a system outage , leaving both individuals and businesses unable to process...

As the economic landscape shifts, law firms face mounting pressure to keep a close eye on the interest rates applied to client accounts....

Managing business finances extends well beyond the January tax bill; it encompasses a series of obligations that affect cash flow...

The Solicitors Regulation Authority (SRA) consultation on consumer protection  is intensifying scrutiny on how client funds are managed....

Handling client money is a core responsibility for law firms, with an associated obligation to pay a fair sum of interest to clients. The...

As Halloween approaches, thoughts turn to spooky tales and ghoulish surprises. But one horror story that’s all too real is the chillingly...

In the current economic climate, many law firms are facing a growing challenge: banks are reducing interest rates  on client accounts,...

Borrowing versus paying by cash. Weight up your finance options

When it comes to borrowing and saving decisions, it's crucial to make sure that you understand the various financial tools at your...

The legal market today is arguably more competitive, and more volatile, than ever before. Of course, the actual legal services that a law...

In today's rapidly changing legal landscape, it is more important than ever for law firms to actively monitor their financial stability...

The Solicitors Regulation Authority (SRA)'s recent article, Interest rates and the client account, discusses interest rates and the...