The Solicitors Regulation Authority have unveiled their fees calculator in an effort to help practitioners plan for next year.
The proposed individual fee has fallen from £320 to £290 with the SRA’s net funding requirement going from £54.1 million to £53.5 million.
Paul Philip, SRA Chief Executive, said: “We know that planning ahead is a key part of effective budget management. Producing the initial fees calculator gives firms a good idea of what practising will cost in the next financial year.
“I am pleased that we have reduced our costs further this year and been able to pass on those savings through the practising fees. We are committed to pressing down further on costs, saving firms and solicitors money”
The SRA Board agreed the draft budget requirements at its meeting on 1 June. Fee determinations will be agreed on 13 July and the full Law Society Group funding requirement on 14 July, and then put forward to the Legal Services Board for final approval.
The consultation on fee levels runs until next Thursday. 7th July.
The fee calculator can be found here.