Law Society and SRA propose 4% cut in PC fee for 2017/18

The Law Society and the Solicitors Regulation Authority have proposed an individual rate of £278 per solicitor for a practising certificate for 2017/18, a 4% reduction.

The proposed cut is “thanks to efficiencies combined with a higher number of solicitors (on the roll and) paying the PC fee”, the two organisations said.

They highlighted how the individual PC fee had fallen by 28% since 2014.

The practising fee includes levies for the Solicitors Disciplinary Tribunal, the Legal Services Board (LSB) and the Legal Ombudsman.

The Law Society and the SRA said an additional cost was also included this year in anticipation of the obligation to fund a new regulatory role created by the Financial Conduct Authority to focus on money laundering activity.

The annual professional contribution to the Compensation Fund is not included in the practising fee consultation.

The consultation document also provides a concise summary of the Law Society Group's budget proposals.

Responses to the consultation will be presented to the Law Society council at their 5 July meeting and shared with the LSB along with the proposal for the PC fee. As the oversight regulator, the LSB considers and approves the fee.

Click here to access the consultation document and to complete a short online survey. The deadline for responses is 2 July.