The Law Society and SRA are set to collect US$287.2 million (£224m) from solicitors for the practising year from November, US$64.1 million (£50m) more than now, mainly due to SRA demands.
The Law Society and the Solicitors Regulation Authority (SRA) are set to collect a total of US$287.2 million (£224m) in fees from solicitors for the practising year starting in November, US$64.1 million (£50m) more than the current year, Legal Futures reported on 12 August 2026. The 29% rise is mainly due to SRA demands. The total comprises practising fees and SRA Compensation Fund contributions.
Practising fees come to US$228.2 million (£178m), a 20% increase on the current year. Of that, US$143.6 million (£112m) (63%) goes to the SRA and US$48.7 million (£38m) (21%) to the Law Society. The remaining US$35.9 million (£28m) funds levies for the Legal Ombudsman, Legal Services Board, Solicitors Disciplinary Tribunal and the Office for Professional Body Anti-Money Laundering Supervision. The individual practising certificate fee will only rise 17%, from US$420 (£326) to US$490 (£382), due to the continuing rise in the number of practising solicitors to around 194,000. Firms pay 60% of the total fees.
The joint application to the Legal Services Board (LSB) excludes compensation fund contributions, which will be subject to a separate application. The SRA is looking to collect US$59 million (£46m) for the fund, US$25.6 million (£20m) more than in the current year. It announced a change in approach last month, with individuals paying 70% of what is needed rather than the usual 50%. Subject to LSB approval, individuals would pay US$220 (£170), up 143% from US$90 (£70), and firms US$2,780 (£2,170), up 11% from US$2,500 (£1,950).
The SRA said earlier this year it needed an extra US$32.1 million (£25m) in core funding for 2026-27, a figure it maintained after consultation. Its application cited more large firm closures, rising concerns in the high-volume consumer claims market and a sustained increase in reports of solicitor misconduct. Its draft budget shows income of US$250 million (£195m) and a planned surplus of US$13.2 million (£10.3m), intended to return reserves to around US$28.2 million (£22m) after a planned US$12.8 million (£10m) deficit in the current year, covered by reserves. The budget includes US$15 million (£11.7m) on external disciplinary and enforcement legal costs, 55% higher than last year because of a number of high-profile cases, among them investigations related to the Post Office Horizon scandal.
