The Law Society has revealed that solicitors could pay £12 less for their practising certificate this year with an individual rate of £278 per solicitor for 2017-18.

The Society state that this is a reduction of four per cent over the previous year and has been achieved as a result of efficiencies combined with a higher number of solicitors (on the roll and) paying the PC fee. Overall, the individual fee has reduced by £42 over the last two years, a reduction of more than 13 per cent. And since 2014 the fee has gone down by 28 per cent.

This year an additional cost is also included in anticipation of the obligation to fund a new regulatory role created by the Financial Conduct Authority to focus on money laundering activity.

The annual professional contribution to the Compensation Fund is not included in the practising fee consultation.

The consultation document can be downloaded from the Law Society’s website at www.lawsociety.org.uk/News/documents/pc-fee-consultation-23-06-2017 and the deadline for responses is midnight on Sunday 2 July.