Firms are required to operate within the rules set out by their governing Law Society, the SRA and HMRC amongst others. The rules are numerous, and compliance is virtually impossible without system help and support. Here at Insight, we can help, our software provides all the monitoring you require to ensure compliance.
Ensuring a firm maintains compliance with the regulations and requirements from relevant government bodies such as HMRC and Professional Organisations such as the National Law Society or SRA, is essential for Law firms to operate. Compliance should be one of the cornerstones of any Legal Software solution.
Your firm requirements include proper conflict checks, correctly handling client money, paying any interest due, prompt payment of suppliers and correctly submitting quarterly VAT returns. It is no longer adequate to rely on the trained and astute eyes of your accounts staff to spot and report each time a breach occurs. Our systems are developed with compliance at the core.
Insight Legal software provides all the reports and monitoring tools to enable Compliance Officers to effectively discharge their duties as COLP and COFA. Our software has enabled all the appropriate accounting compliance protocols to flag breaches and generate reports that enable Compliance Officers to monitor, review and manage risk and aid compliance.
Whether it’s accounts or practice management, with Insight Legal software we give you peace of mind from a compliance and risk perspective. We provide stringent checks and warnings when completing a financial posting, plus full and detailed VAT returns (for qualifying firms) to provide up to date information on inputs and outputs, as well as helping to record all payments and submitting MTD returns.
Our software is compliant with the latest HMRC requirements for the direct submission of quarterly VAT returns and digital record keeping. Non-compliant firms are now at risk of fines from HMRC.
After April 2020, firms using systems without MTD-compliant software are at risk of financial penalty. That includes those that might be using a temporary bridging solution provided by their current supplier. Our briefing note from January 2020 about MTD and VAT returns may help.
Our software meets all the current requirements of HMRC in respect of its MTD programme and will continue to do so.
Our accounts management reports monitor residual balances and movements between a firm’s bank accounts.
From a casework angle, Insight Legal incorporates detailed conflict checks. There is the facility to create user-defined fields so that a firm’s procedures for Anti-Money Laundering checks and file checklists are maintained.
Book a demo to see how Insight Legal Software can exceed your legal compliance management needs. Our software is designed specifically for UK and Ireland Law Firms.
Looking to see the tools we have available? Arrange an online demonstration of our software and one of our friendly team will give you a guided tour and answer all of your questions.
Our pricing structure is made deliberately simple. With no prohibitive upfront costs and a simple 30 day or 12 month rolling contract, create your bespoke legal software estimate.
For a practice choosing a new system, it is imperative that data from the old system can be brought forward to the new one. We are experts in data migration from over 40 different systems.
Insight Legal is an award-winning software solution, supported by a dedicated team of people on hand to work alongside you to plan a bespoke transition according to your exact needs.
Our Training is designed around the needs of your people and practice. Training doesn’t stop after the implementation phase - it’s available whenever and wherever you need it.
Firms can choose between storing data entirely on premise, in the cloud or a mixture of both. This combination of apps and flexible deployment means users have a responsive, easy to use system.
Many software companies charge an additional fee for their support service on top of the licence cost. With Insight Legal, software support is included in the price that you pay.Read more