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£48k is likely to be a drop in the ocean compared to the larger firms who could have money going back very many years. It is good that the SRA is allowing firms to dispose of the money in an appropriate way - obviously once a search has been conducted. However, firms really shouldn't be holding this money in the first place. Make it a condition of file closure that money is returned and the file be closed in a reasonable period or something. It really is outrageous that firms don't have this discipline - it's not their money after all.