Legal ERP for United Kingdom

The SRA Standards and Regulations framework replaced the previous Handbook in November 2019, introducing principles-based regulation with seven Principles, Codes of Conduct for individuals and firms, and specific rules for accounts and transparency. Price transparency rules require firms to publish pricing information for certain services including conveyancing, probate, motoring offenses, employment tribunal claims, immigration, and debt recovery. This affects how firms structure and display their fee information.

Anti-money laundering compliance is a major regulatory obligation for UK law firms. The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (as amended) require firms to conduct customer due diligence, maintain records, report suspicious activity to the National Crime Agency through Suspicious Activity Reports, and appoint a Money Laundering Reporting Officer. The Legal Sector Affinity Group guidance provides sector-specific AML compliance advice. Tax planning and property transactions carry particularly high money laundering risk assessments.

Yukti provides law firms with SRA-compliant client accounting that maintains strict separation between client and office funds, produces the reports needed for the annual accountant report, and tracks interest on client money in accordance with the SRA Accounts Rules. The matter management module handles case workflows across the range of legal services with time recording, fee earner utilization tracking, and work-in-progress management. AML compliance is built into the client onboarding workflow with identity verification, source of funds documentation, ongoing monitoring, and SAR filing capabilities. The billing module supports the transparency pricing formats required by SRA for specified service areas. Legal aid billing follows LAA contract requirements with automated billing claim preparation.