ALCA

Consultancy

In addition to the retainer plans, our legal accounts consultancy service provides help, support and guidance out of the standard ‘day-to-day’ issues that individuals and firms may face such as receiving an investigation from a regulator or HMRC. Check what’s included as part of your retainer plan as some of the below services are included depending on plan you subscribe to.

REGULATORY COMPLIANCE

Our team includes consultants with a variety of experience and detailed insight into compliance issues from the SRA, CiLEx to HMRC.

We regularly assist and help law firms and other authorised legal services firms in understanding and complying with their regulatory duties, especially when they get it wrong.

AUDIT & INVESTIGATIONS

Individuals and firms reach out to us for a number of reasons such as when faced with an upcoming audit or investigation or just for a review of current processes and procedure. Many firms also instruct us before they are threatened with an audit and so ensure that they are properly compliant with the SRA Standards and Regulations before external issues arise.

For decades, we have successfully helped and supported individuals and law firms to resolve difficulties experienced with HMRC inspections (VAT and PAYE) and regulatory investigations. We provide help, support and guidance on all aspects of legal practice management and regulatory compliance.

RESIDUAL BALANCES

Your regulator may require you to return client money promptly to the client, or third party for whom the money is held, as soon as there is no longer a proper reason to hold those funds. Unfortunately, there may be occasions when client funds are still held at the natural end of the matter and where it becomes difficult to clear the balance as you cannot identify or trace the client. Certain action needs to be taken to correctly clear funds, which may include release to someone other than to the client. The approach may depend on whether the client can be traced, the size of the balance held in the client account etc. If, like most firms, you have residual balances that need managing and clearing, we can help.