This document summarises requirements of the SRA Accounts Rules regarding payment of interest by law firms on client money. For more detailed guidance, see Practice Note: Payment of interest—law firms. See also Precedent: Interest policy—law firms.
You must account to clients or third parties for a fair sum of interest on any client money held by you on their behalf. See Practice Note: Payment of interest—law firms—What is a fair sum of interest?
You may by a written agreement come to a different arrangement with the client or the third party for whom the money is held but you must provide sufficient information to enable them to give informed consent.
The Accounts Rules
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