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February 14, 2013

Reserved legal services announcement ‘common sense’: ICAEW

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.

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

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