Free calculator · UK 2026/27
SRA Client Account Reserve
Solicitors holding client money face reconciliation obligations under the SRA Accounts Rules. This tool sizes the prudent operational reserve you should maintain, covering shortfall remediation, residual balances and contingency, based on your open-matter profile.
SRA Client Account Reserve
Solicitors holding client money face reconciliation obligations under the SRA Accounts Rules. This tool sizes the prudent operational reserve you should maintain, covering shortfall remediation, residual balances and contingency, based on your open-matter profile.
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What this calculator estimates
The SRA Accounts Rules (2019) do not mandate firms to hold a specific reserve against client money. However, prudent practice requires a buffer to cover: shortfalls discovered at reconciliation that need to be funded from office account pending investigation, residual balances awaiting client return, and contingency for client money interest payments.
The calculator estimates peak client money exposure (matters x average balance) then applies a risk factor by matter type. Conveyancing attracts the highest factor due to fraud risk, fund misdirection, and registration errors. The range reflects variation in firm controls and the precision of your input estimates.
Rule 12.2 of the SRA Accounts Rules provides a de minimis exemption from the annual Accountant's Report obligation for firms where the average client-account balance in the period did not exceed £10,000 and the maximum balance did not exceed £250,000.
Worked example: Carver & Partners is a residential conveyancing firm with 150 open matters, each holding an average of £25,000 in client money (the high-volume band). Peak client money exposure is 150 x £25,000 = £3,750,000. The conveyancing risk factor is 2.5%, giving a suggested mid-point reserve of £3,750,000 x 0.025 = £93,750. The prudent range runs from £65,625 (low, 0.7x) to £140,625 (high, 1.5x). The COFA uses this range as the starting point when setting the firm's operational buffer in client account, to cover the cost of remedying any shortfall discovered at monthly reconciliation before completion of the investigation.
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These calculators give directional figures based on published rates. Your actual position depends on firm structure, basis period adjustments, existing capital contributions, and your specific revenue profile. Our team models the full picture as part of the advisory work.
- SRA Accounts Rules 2019Client account, five-weekly reconciliations under Rule 8.3, and the Rule 12 accountant's report
- Partnership, LLP and incorporatedProfit shares, the salaried member rules and the tax that follows each structure
- One team, start to finishThe same accountants throughout, not passed around
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Frequently asked questions
- Is this the same as the SRA Accountant's Report?
- No. The SRA Accountant's Report (formerly Annual Accountant's Report) is a regulatory compliance report prepared by a Reporting Accountant examining whether the firm has complied with the Accounts Rules. This calculator estimates a prudent operational reserve, a different concept from the compliance report.
- What does the COFA need to do with this figure?
- The COFA (Compliance Officer for Finance and Administration) is responsible for compliance with the Accounts Rules. The reserve estimate from this tool is input to the COFA's risk assessment and operational buffer decision. It is not a substitute for the COFA's judgment based on the firm's actual reconciliation history and risk profile.