Evening Standard article
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Date 19 January 2011 Page 24 Copyright Newspaper Licensing Agency. For internal use only. Not for reproduction. WE COULD LOSE THE WILL TO LIVE Q MY HUSBAND and I have been with the same family solicitor for about 25 years. We moved to a new area in Putney five years ago and told our solicitor to keep our wills, our children’s trust documents and our lasting powers of attorney. We have just heard from some old neighbours that our solicitor’s firm has closed down and the office is empty. We are really concerned about our documents — what can we do? A S YOU haven’t heard from your family solicitor it sounds as though the firm did not close voluntarily, as it would presumably have made appropriate arrangements for its closure in accordance with the relevant regulations contained in the Solicitors’ Code of Conduct. If the firm did not close voluntarily there would have been what is known as an intervention by the Solicitors Regulation Authority (SRA). This occurs if the SRA considers that it needs to act to protect the interests of the clients of the firm and to protect clients’ money if, for instance, a solicitor has died or abandoned the practice. The SRA will appoint an intervention agent who will distribute documents and money which have been held by the firm on behalf of clients. As you have not heard anything from your solicitor or an intervention agent, telephone the SRA (0870 606 2555), obtain the intervention agent’s details and request the return of your documents. Fiona McNulty OUR LAWYER ANSWERS YOUR QUESTIONS
Transcript of Evening Standard article
Date 19 January 2011 Page 24
Copyright Newspaper Licensing Agency. For internal use only. Not for reproduction.
WE COULD LOSE THE WILL TO LIVE
QMY HUSBAND and I have been with the same family solicitor for about 25 years. We moved to a new
area in Putney five years ago and told our solicitor to keep our wills, our children’s trust documents and our lasting powers of attorney.
We have just heard from some old neighbours that our solicitor’s firm has closed down and the office is empty. We are really concerned about our documents — what can we do?
AS YOU haven’t heard from your family solicitor it sounds as though the firm did not close voluntarily, as it would
presumably have made appropriate arrangements for its closure in accordance with the relevant regulations contained in the Solicitors’ Code of Conduct.
If the firm did not close voluntarily there would have been what is known as an intervention by the Solicitors Regulation Authority (SRA). This occurs if the SRA considers that it
needs to act to protect the interests of the clients of the firm and to protect clients’ money if, for instance, a solicitor has died or abandoned the practice.
The SRA will appoint an intervention agent who will distribute documents and money
which have been held by the firm on behalf of clients.
As you have not heard anything from your solicitor or an intervention agent, telephone the SRA (0870 606 2555), obtain the intervention agent’s details and request the return of your documents.
Fiona McNultyOUR LAWYER ANSWERSYOUR QUESTIONS
Date 19 January 2011 Page 24
Copyright Newspaper Licensing Agency. For internal use only. Not for reproduction.
WHAT’S YOUR PROBLEM?IF YOU have a question forFiona McNulty, please email [email protected], or write to Legal Solutions, Homes & Property, London Evening Standard, 2 Derry Street, W8 5EE.
We regret that questions cannot be answered individually but we will try to feature them here.
Fiona is a partner in the private client property practice of Thring Townsend Lee & Pembertons LLP. (ttuk.com)
QI BEGAN the process of buying a leasehold apartment in August last year. Completion is planned for later this month. My solicitor had quoted £2,500 (plus VAT) for legal fees
but has not invoiced me as we agreed I would be invoiced on exchange of contracts.
In view of the recent VAT increase, what rate of VAT will be payable on my legal fees?
ATHE VAT increase from 17.5 per cent to 20 per cent was announced in June last year, and came into effect on January 4 this year. All goods and services supplied on or after this date must have
VAT charged on them at 20 per cent. If goods or services were supplied within 14 days
of January 4 and an invoice was raised on that date, or one is raised after it, VAT at 20 per cent should be charged.
In addition, any invoices raised on January 4 or later for goods and services provided before that date can have VAT charged at 20 per cent.
The legal work carried out by your solicitor spans across the two periods where the two different VAT rates apply, so your solicitor can choose to charge VAT on the entire fee at 20 per cent, or charge 17.5 per cent VAT on the legal work which was completed between August last year and January 3 this year, and 20 per cent on the work from January 4 to the completion of your purchase.
If your solicitor is agreeable to the second option then they will have to issue two invoices.
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