The Law Society’s governing council today approved a 17% reduction in the individual practising certificate fee for 2014-15.
Council members, voting on the Law Society Group’s budget – which covers the Solicitors Regulation Authority, the Law Society professional body and Corporate Solutions, the group’s shared-services arm – overwhelmingly endorsed the plans to reduce the group’s net funding by almost £12m.
The proposal will now be passed to the Legal Services Board for final approval.
Law Society president Nicholas Fluck said that the Law Society Group had consulted solicitors to a greater extent than ever before.
‘Hundreds of solicitors shared their views on the draft proposal for the net funding requirement and practising certificate fee in 2014-15. Many respondents asked that we do all we can to minimise the group’s call on the PC fee.
‘I am therefore proud that this year we have been able to recommend a reduction in the individual practising certificate fee by 17%, while also seeing a sizeable reduction in the firm levy and the compensation fund levy.
‘All parts of the group are looking carefully at their expenditure to deliver the best service at the minimum cost.’
A practising certificate currently costs £384, with a £56 contribution to the compensation fund on top.