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Review Your SQE 1 Practice Records

Examination Timing: 00H00M12S

Lisa, a solicitor, receives a payment from a client that includes funds for both legal fees and court filing fees. How should Lisa handle this mixed receipt in accordance with the SRA Accounts Rules?

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Lisa should deposit the legal fees into the business account and the court filing fees into the client account. According to the SRA Accounts Rules, client money and business money must be handled separately to ensure transparency and proper management of funds. Key Point: Mixed receipts must be appropriately allocated between client and business accounts to comply with the SRA Accounts Rules and maintain financial integrity.

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