Billing for Conveyancers - Rules, Regulations & Profit

Introduction

There is a difference between being a good lawyer and being a good business person. In private practice there is a need for both attributes because it is all very well completing an excellent job for your client but unless you are on top of your billing procedures there will be no profit.

Get the balance right and you will retain the confidence and goodwill of your client and importantly keep to the rules and avoid the attention of your Regulatory Bodies.

What You Will Learn

This webinar will cover the following:

• SRA Thematic Review of firms and billing procedures
• Transparency failures - SRA steps up enforcement
• Examples of cases in the Solicitors Disciplinary Tribunal
• Will your bill get paid? Important items include preparing and presenting your completion statements, Invoicing clients by email, avoiding doing work for nothing and turning away unprofitable clients
• Keeping in touch with your clients after completion, ‘cross selling’ other services, charging for copies, file and document retention
• SRA Code of Conduct 2019, Referral Fees, 'False Profits'
• Law Society Guidance and 2019 Protocol - ‘Price and Service Transparency’, Client Care Information and Publicising Solicitors’ Charges
• SRA Accounting Rules 2019
• VAT on disbursements and SDLT implications - the danger of tax savings schemes
• UK Finance Conditions - with a look at panels, mortgagees’ costs and separate representation
• The ultimate sanction - you can be struck off for ‘overcharging’
• What can a client do in challenging a bill?
• The retainer letter and contractual basis
• Your business philosophy - why does a client instruct you anyway? Is it always the fee?
• Partnership problems - how do you agree to share the fees and payments between partners
• What is meant by a quote from a firm to prospective clients?

This webinar was recorded on 7th December 2023

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