The Institute of Chartered Accountants in England and Wales (ICAEW) has called the Legal Services Board (LSB) notice that estate administration will not become a reserved legal service "common sense".

The ICAEW said the LSB’s decision confirms accountancy firms can continue to provide a wide range of services including estate administration to the general public.

"Lots of firms from the largest to the smallest on the high street offer these kinds of services, as well as accountancy, and common sense has prevailed," the institute wrote in a statement.

"ICAEW has been working behind the scenes on members behalf to ensure that the LSB is aware of the work that ICAEW Chartered Accountants do in this area and we are pleased that the LSB has listened and responded to our feedback."

In December 2012, the institute submitted an application to the LSB to allow it to become probate services and Alternative Business Structures (ABS) regulator, following a public consultation.

The Legal Services Act 2007 opened the provision of reserved legal services to competition and enabled practitioners, other than lawyers, to become authorised to provide reserved legal services.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Related article

ICAEW applies to regulate probate services and ABS

Related links

The Institute of Chartered Accountants in England and Wales

The Legal Services Board