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.
Support and peace of mind
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.
Risk reporting, analysis and checking
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 help to record all payments and submit MTD returns.
Compliance with HMRC Making Tax Digital (MTD)
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 penalties. 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.
What our clients say
Move to Enterprise and workflow roll-out leads to super-charged efficiencies for James Legal
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.