UK status Since 31 January 2020 (exit day) the UK is no longer an EU Member State. For a time, under the Withdrawal Agreement, the UK was in an implementation period, during which it continued to be subject to EU law. However from 1 January 2021, the main operative parts of the Regulation (EU) 2015/848 (OJ L141 5.6.2015 p 19), Recast Regulation on Insolvency [EU Recast Regulation on Insolvency] on automatic recognition are no longer applicable to the UK (see Practice Note: Brexit—impact on Recast Regulation on Insolvency). However, other Member States continue to apply the EU Recast Regulation on Insolvency where its requirements are satisfied and this note looks at how it applies between those Member States. EU Recast Regulation on Insolvency Substantial reforms were made to the EC Regulation on Insolvency, Regulation (EC) 1346/2000 (EC Regulation on Insolvency) by the EU Recast Regulation on Insolvency. For the full text of the EU Recast Regulation on Insolvency, click here. Although the EU Recast Regulation

UK status Since 31 January 2020 (exit day) the UK is no longer an EU Member State. For a time, under the Withdrawal Agreement, the UK was in an implementation period, during which it continued to be subject to EU law. However from 1 January 2021, the main operative parts of Regulation (EU) 2015/848 (OJ L141/19), Recast Regulation on Insolvency [EU Recast Regulation on Insolvency] on automatic recognition are no longer applicable to the UK (see Practice Note: Brexit—impact on Recast Regulation on Insolvency). However, other Member States continue to apply the EU Recast Regulation on Insolvency where its requirements are satisfied. EU Recast Regulation on Insolvency Substantial reforms were made to the EC Regulation on Insolvency, Regulation (EC) 1346/2000 (EC Regulation on Insolvency) by the EU Recast Regulation on Insolvency. For the full text of the EU Recast Regulation on Insolvency, click here. Although the EU Recast Regulation on Insolvency entered into force on 26 June 2015, the majority of the provisions were only effective from

UK status Since 31 January 2020 (exit day) the UK is no longer an EU Member State. For a time, under the Withdrawal Agreement, the UK was in an implementation period, during which it continued to be subject to EU law. However from 1 January 2021, the main operative parts of the Regulation (EU) 2015/848 (OJ L141 5.6.2015 p 19), Recast Regulation on Insolvency [EU Recast Regulation on Insolvency] on automatic recognition are no longer applicable to the UK (see Practice Note: Brexit—impact on Recast Regulation on Insolvency [Archived]). However, other Member States continue to apply the EU Recast Regulation on Insolvency where its requirements are satisfied and this note looks at how it applies between Member States. EU Recast Regulation on Insolvency Substantial reforms were made to the EC Regulation on Insolvency, Regulation (EC) 1346/2000 (EC Regulation on Insolvency) by the EU Recast Regulation on Insolvency. For the full text of the EU Recast Regulation on Insolvency, click here. Although the EU Recast Regulation on Insolvency entered

Legal regimes The EU Recast Regulation on Insolvency applies to the Member States, whereas the UNCITRAL Model Law on Cross-Border Insolvency (the UNCITRAL Model Law) potentially applies worldwide (if adopted by a particular country). The Cross-Border Insolvency Regulations 2006 (CBIR 2006), SI 2006/1030 implement the UNCITRAL Model Law in the UK (see Practice Note: When does UNCITRAL (implemented by the Cross-Border Insolvency Regulations) apply and what are the effects?). Foreign main proceedings are similar to main proceedings under the EU Recast Regulation on Insolvency, and foreign non-main proceedings are similar to secondary proceedings under the EU Recast Regulation on Insolvency. Post Brexit (from 11 pm on 31 December 2020), the Insolvency (Amendment) (EU Exit) Regulations 2019, SI 2019/146 kicked in and amended both the Regulation (EU) 2015/848 (OJ L141/19), Recast Regulation on Insolvency [EU Recast Regulation on Insolvency] and various other legislation including the CBIR 2006 (see News Analysis: Brexit impact on Cross-Border Insolvency Regulations 2006 (CBIR 2006) and Practice Note: Brexit—impact on Recast Regulation on Insolvency

This Practice Note sets out the requirements of the SRA Accounts Rules (Accounts Rules), regarding receipt and transfer of costs. It also reflects supporting guidance issued by the SRA: SRA, Helping you keep accurate client accounting records. Money received or held in respect of unbilled fees or disbursements There is a formal definition of client money. This includes money you hold or receive in respect of your fees and any unpaid disbursements if held or received before delivering a bill for the same. The SRA expands on this definition in separate guidance: ‘client money is money of any currency that is received and held as cash, cheque, draft or electronic transfer by a firm when they are providing legal services’. Examples include money for the firm’s fees, and any unpaid expert fees, that have been received before a bill has been sent to the client for those fees. If money held or received in respect of unpaid disbursements is client money, it follows that money held or received in respect of paid disbursements

I, [beneficiary], acknowledge that today I received from [names of trustees] the trustees of [insert name of trust] (the Trust)

Acknowledgment of receipt I hereby acknowledge the receipt of the following

[enter name of firm] [enter firm’s address] In the estate of the late [enter

I, [insert employee’s name] of [insert address], acknowledge that I have today received from [insert employer’s name] of [insert

I, [insert employee's name] of [insert address], acknowledge that: 1 I have received from [insert name of employer] of [insert address] the sum of £[enter total amount] being my entitlement to: 1.1 [a

Received this day from [insert name of employer] of [insert address] the

A monetary obligation owed by one person to another in payment for the supply of goods or services.