Going it alone
Our morelegaloptions interview is with Julie Stewart, who has set up her own firm in Chelmsford called Stewart Law. Below is some information from the Law Society on setting up in practice. If you want more detailed information you can click here.
To set up a firm and practice by yourself you must:
- (Obviously) have a practising certificate.
- Have qualifying insurance from a qualifying insurer in place before you commence trading (see www.indemnity.lawsociety.org.uk).
- Be a “principal” who is qualified to supervise i.e. you must have held a practising certificate for at least 36 months in the last 10 years and have undergone at least 12 hours of management training skills.
- Comply with the Solicitors’ Financial Services (Scope) Rules 2001 and the Solicitors’ Financial Services (Conduct of Business) Rules 2001.
- Set up accounting procedures to comply with the Solicitors’ Account Rules 1998.
- Tell the Law Society your new practising address.
- Register under the Data Protection Act 1998.
- Comply with the Solicitors’ Publicity Code 2001, which spells out when and how you may contact your former employer’s clients (contained in the booklet on the Solicitors’ Practice Rules 1990).
- Keep a record of doing 16 hours of CPD per year.
- Comply with the Business Names Act 1985.
- Safeguard client confidentiality if sharing premises.
- Take steps to ensure you are not using laundered money.
The Law Society offers a practice advice service on 0870 606 2522 and a
professional ethics advice service on 0870 606 2577. It also advertises a book called “Setting Up and Managing a Small Practice.”
To see the Solcitors Sole Practitioner Group website, click here.