The Legal Services Board has agreed to the Solicitors Regulation Authority’s proposal to leave practising fees unchanged for the coming practising year.
This means that the individual fee will remain at £320, while the fees for firms will be determined by turnover figures.
Compensation Fund contributions also remain unchanged at £548 for firms, and £32 for individuals.
Paul Philip, SRA Chief Executive, said: "We are committed to making it easier for firms to do business, and keeping SRA costs down can only help. Maintaining practising fees and Compensation Fund contributions at the current level is, in real terms, a reduction."
The SRA said practising fees were set at a level necessary to meet the total funding requirement set by the Law Society Council.
The fees are used to fund the SRA, to pay statutory levies to the Legal Services Board, Legal Ombudsman and the Solicitors Disciplinary Tribunal, and to fund representation by the Law Society that meets the ‘permitted purposes' criteria in the Legal Services Act.
The SRA’s fees calculator and other information on 2015/16 fee determinations can be accessed through the Fees Policy 2015/16 page.