Enhance operational efficiency, mitigate risk and reduce administrative costs by outsourcing your client account function, either fully or partially.
Shieldpay's fully-digital platform allows firms to reduce time spent on admin, reduces the risk of regulatory breaches, eliminates the need to deal with residual balances and enables better client experiences with full transparency over the management of funds.
The Solicitors Regulation Authority (SRA) Account Rules provide the right for firms to use TPMAs as an alternative to holding client monies. The CLC also explicitly permits the use of TPMAs.
SRA requirements to using TPMA:
Shieldpay provides firms with an alternative to holding client money, a way to improve internal risk management, as well as increase transparency in transactions and provide better customer service
With Shieldpay, the tax credit is paid directly into the TPMA by HMRC. The tax firm can then settle their fee immediately and send the funds to the claimant.
The Legal Director is a fully regulated law firm that provides businesses with highly qualified and experienced lawyers on a fully flexible basis.
TPMA can help tax rebate specialists to remove administrative burden, increase speed, reduce risk and facilitate payments.