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Solicitors are responsible for protecting client money. Solicitors often hold significant cash for clients, for example, house deposits or funds to purchase a business. It is crucial that this money is protected from misuse to protect clients, and for confidence in the legal profession.


Reporting Accountants play an important role in reviewing how law firms do this through their reporting work under the Solicitors Regulation Authority (SRA) Accounts Rules. The SRA provides guidance on how reporting accountants should approach their work. It relies on reporting accountants using their professional judgement when planning, scoping and carrying out their work.


Xaviers is fully-qualified and accredited to provide SRA audits. Delivered by experienced auditor and ICAEW and ACCA member Mijos Xavier, Xaviers Accountants specialises in the delivery of SRA Audits for solicitors and legal professionals throughout Wigan, Preston, Greater Manchester and across the UK. SRA audits also allow an auditor to identify areas of inconsistency and areas where a business may wish to improve its processes.


Please contact us: Tel: 01772439023E: info@xaviersaccountants.co.uk


https://www.xaviersaccountants.co.uk/sraaudit

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  • Xaviers

In July, the UK Government will pay 70% of employees' usual wages for the hours not worked, up to a cap of £2,187.50. In August and September, this will reduce to 60% of employees’ usual wages up to a cap of £1,875.


Employer will need to pay the 10% difference in July, and 20% in August and September, so that employer continues to pay furloughed employees at least 80% of their usual wages for the hours they do not work during this time, up to a cap of £2,500 per month.


You can still choose to top up your employees’ wages above the 80% level or cap for each month if you wish, at your own expense.


To help you plan ahead for future claim periods, the CJRS calculator is available to help you work out how much you can claim for employees up to the end of September. To find this and everything you need to know about the CJRS, search 'Job Retention Scheme' on GOV‌‌.UK.

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The VAT deferral new payment scheme is open for all businesses who deferred paying VAT due between 20 March‌‌ ‌and 30‌‌ ‌June 2020, and were unable to pay in full by 31 March‌‌ ‌2021.

The last day you can join this scheme online is 21‌‌ ‌June. If you join by this date you can spread your payments across up to eight installments.


If you have deferred paying VAT and have not yet joined the VAT deferral new payment scheme, you may be charged a 5% penalty and/or interest if you do not join online by the deadline of 21‌‌ ‌June or pay in full by 30‌‌ ‌June.


To find out more, including what you need to join online, go to GOV‌‌.UK and search 'VAT deferral'.

If you're still unable to pay and need more time, please contact HMRC to make an alternative arrangement by 30‌‌ ‌June‌‌ ‌2021 – go to GOV‌‌‌.UK and search 'if you cannot pay your tax bill on time'.

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