03 July 2008
In brief
Unclaimed client cash up to a certain amount can be given to charity from 14 July following an amendment to the Solicitors Account Rules. This will allow balances of £50 or less on unclaimed client accounts to be released to charity without prior SRA approval. Firms must carry out due diligence to allow the self-certification and release of these funds. The Law Society has published a survey to get practitioner views on repatriating unclaimed balances to clients and making it easier to give unclaimed cash to charity.
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