From time to time, in the course of our work for our clients, we might hold money on behalf of a client. That money will normally be held in our instant access client account or, if appropriate in the circumstances, on a client deposit account.
We conduct all financial matters in accordance with the Solicitors Accounts Rules 2019.
Our Policy in relation to any money we receive on behalf of a client is to hold it in the firm’s clients account. Solicitors maintain such accounts separate and apart from monies belonging to the firm. This provides an additional layer of security for the money until it is used for one of the purposes for which it has been held.
Such an account does attract interest payments from the bank where it is held and it is the policy of Truth Legal to account to each client for such interest received where that interest exceeds £20. Below that sum, in accordance with the authorised practice in the legal profession, no payment is made on the basis of being de minimus and insufficient to justify the administration costs of dealing with the same.
If any interest should be due and payable to you this will dealt with automatically at the end of the matter.
If you have any questions, please contact our Compliance Officer for Financial Affairs, Andrew Gray.