The Law Society made the offer this week as it launched its annual consultation on the fee with solicitors.
The
Law Society receives about 30% of the fee. The largest portion (around 70%)
covers the total costs of the SRA, part of the costs of the Legal Service Board and
the Legal Ombudsman, the full cost of the Solicitors Disciplinary Tribunal, and
certain levies under the Legal Services Act.
‘Now
more than ever, we are very aware that we are spending members’ money to
support the profession, firms and individual members through challenging times
for the sector and society,’ said Law Society president Simon Davis.
However,
Davis added: ‘Although we propose to reduce our portion by £3m, proposed
increases elsewhere will result in a flat PC fee overall.’
The
Law Society offer is part of an overall package of support worth about £4m, to
help the profession through the COVID-19 pandemic, including free training
programmes, free webinars and accreditation discounts for conveyancing and
criminal law practitioners.
Solicitors
can make their views known on the practising fee at: www.bit.ly/2YrUIll.
Meanwhile,
the SRA said contributions to the Compensation Fund for the next practising
year will reduce from £60 to £50 for individuals and from £1,150 to £950 for
firms. Both figures are subject to final SRA Board and Legal Services Board
approval.
