Residual balances register

The following Practice Compliance precedent provides comprehensive and up to date legal information covering:

  • Residual balances register

Residual balances register

This Residual balances register enables you to comply with the requirements of the SRA Accounts Rules 2019, to keep a central register of residual balances. It is intended for use by law firms.

Please click to download this register.

Please note that this register has been prepared in Excel and it therefore cannot be downloaded to Word.

This Precedent Residual balance record enables you to comply with the requirement of the SRA Accounts Rules 2019 to keep a central register of residual balances. It reflects the SRA Accounts Rules 2019, in force from 25 November 2019, regarding residual balances. It also reflects the SRA’s mandatory Statement on the prescribed circumstances in which you can pay a residual balance of £500 or less to charity. There is a separate Precedent for to help you make and record decisions on individual residual balances—see Precedent: Residual balance record. For guidance on the SRA’s requirements, see Practice Note: Residual balances 2019—law firms.

You must ensure client money is returned promptly to the client, or the third party for whom the money is held, as soon as there is no longer any proper reason to hold it. Where this is not possible, eg because you cannot get instructions or you cannot trace your client, you can withdraw client money from a client account on the SRA’s prior written authorisation or

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