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Price Transparency Rules

View profile for Vicky Simpson
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As we approach the December have you started to consider the new transparency rules and how you are going to comply with rules which the SRA aim to provide clients with all the information they will require to make an informed decision as to which firm they instruct. Following on from the CMA’s report in 2016, which had been commissioned the conclusion arrived at was that there was not enough information available on price, quality of service to assist consumers.   The SRA state that any firm who does not comply will face disciplinary action.

The new rules apply to the following:

For members of the public

 

For small businesses

 

  • Residential conveyancing (freehold sale or purchase, leasehold sale or purchase, mortgage and re-mortgages)

 

  • Debt recovery (up to £100,000)

 

  • Probate (uncontested cases with all assets in the UK)

 

  • Employment tribunals (defending claims for unfair or wrongful dismissal)

 

  • Employee and Employer tribunal claims (unfair/wrongful dismissal)

 

  • Licencing applications for business premises (new applications and varying existing licences)

 

 

  • Immigration (excluding asylum applications)

 

  • Motoring offences (summary offences only)

 

 

So what must you be including?    The full list of rules has been published and can be seen by clicking on this link https://www.sra.org.uk/solicitors/guidance/ethics-guidance/price-transparency.page#templates

You will need to include:

  • You must provide price information prominently, in as clear and understandable format as possible
  • You must specify whether stated prices include VAT
  • You must specify exactly what is included within the price displayed. This is important even if you quote a fixed fee to avoid confusion amongst consumers about what they might need to pay extra for
  • If you publish a range of costs, you need to set out the basis for your charges, including any hourly rates and the types of factors that will determine what the final price will be
  • If you offer your services in different ways and the delivery model impacts on the price, make this clear. For example, if you charge a higher fee for face-to-face services than for strictly online services
  • If using an online quote generator, the generator must produce a quote directly without requiring any additional contact, for example someone calling to discuss the quote

It should be noted that firms using an online price generator, should ensure that they are compliant with GDPR when handling the data from consumers of clients.   If you are yet to tackle GDPR, have a look at our GDPR page:  https://www.symphonylegal.com/site/compliance-support/gdpr-compliance/

How can we assist? 

  • We will guide you through the mandatory requirements applicable to your firm
  • We will provide information on best practice and recommendations
  • We will assist you in the review of your team profiles
  • We will work with your teams to review your current pricing, estimate process through to translating onto the website.
  • We can review your client care letters in accordance with new rules. 

All services are tailor-made to each firm and the number of days required is determined by this. Consultancy day rate starts from £1,000.00 per day plus VAT and Travel.