Practising fees will be unchanged for the coming practising year, the Solicitors Regulation Authority (SRA) has proposed.
If the proposals are approved by the Law Society Council and the Legal Services Board, the individual fee would remain at £320. Compensation Fund contributions would also remain unchanged at £548 for firms, and £32 for individuals.
Practising 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.
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's Fees Calculator and further information on fees in general can be accessed at www.sra.org.uk/mysra/fees/fee-policy-2015-2016.page