A new Professional Standards Scheme begins on 1 July 2022.
Incorporated Legal Practices (ILP) are now eligible to participate in the Scheme.
New scheme guidance has been written and a number of new forms have been prepared. The relationship between the differing caps on liability classes 1 and 2 and the discretionary cap has been clarified.
ILP membership and scheme participation will be available during the forthcoming online renewals. You and your staff can continue to participate in the scheme during renewals as in the past.
For further details please see our Professional Standards Scheme website page here and our ILP membership website page here.