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Solicitors Account Rules

Solicitors Account Rules

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I have a new solicitor client who commenced trading in the middle of the month of May 2013 and his accountants who are unqualified have drawn accounts up to 31 March 2014. We have done our SRA rules based on this year end. SRA are expecting a report drawn up to middle of May 2014. Is there any way to change the SRA report date to 31 March 2014.

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Me!
By nigelburge
25th Nov 2014 12:11

Ask the SRA

that is the first thing to do - OR get your client to speak to them.

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By Hal
25th Nov 2014 12:28

SAR

Looking at the SRA rules:

Problem with moving the date back to 31.03.14 is that the SRA would have expected the accountants report by 31.09.14, under Rule 32.1.

Rule 33.4 allows for the change of accounting period as long as the written notification is received by the SRA before the accountants report is due.

So you will be able to amend for subsequent years.

 

 

 

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Me!
By nigelburge
25th Nov 2014 12:38

Yes, but............

Notwithstanding the Rules, the SRA will often allow a late report.

Just ask them, what have you got to lose?

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