The month-long exercise will bring together key information on solicitors and firms, and the collection of periodic fees.
The Legal Services Board (LSB) has agreed practising fees will be unchanged for the coming practising year.
Proposals by the SRA have been accepted, meaning the individual fee will remain at £320. Fees for firms are determined by turnover figures. Compensation Fund contributions also remain unchanged at £548 for firms, and £32 for individuals.
Practising fees are set at a level necessary to meet the total funding requirement set by the Law Society Council. The fees are used to fund the SRA, to pay statutory levies to the Legal Services Board, Legal Ombudsman and the Solicitors Disciplinary Tribunal, and to fund representation by the Law Society that meets the ‘permitted purposes' criteria in the Legal Services Act.
To make sure their renewal runs as smoothly as possible, solicitors and firms with a mySRA account need to ensure their information in the account is up to date before 1st October. Any changes to organisation details, such as name, address or the addition of a new office, should be made in mySRA by 1st September 2015 for approval in good time for the October renewals window.
Firms' authorised signatories and organisation contacts have been advised of the new renewal window dates.
Read the full Today's Conveyancer article here