Manage your Practice

In many ways starting your own legal practice can seem like a big step into the unknown. Setting out on your own is no doubt an exhilarating and daunting experience in equal measure for most legal practitioners.

When launching a new legal practice, or acquiring one, it is important to lay a solid foundation for the future. In the early days, equip your legal practice with a well-defined business structure and have a financial plan in place that will stand the test of time.

Running a legal practice is a constant learning experience. Practice managers must ensure that they are constantly evolving in their knowledge of legal practice. Starting your own practice means becoming familiar with a broad range of issues spanning the fields of human resources, information technology, marketing and insurance.

The Law Society has put together a range of resources below to assist you with the start-up of a new legal practice.

Quality Practice Standard Accreditation

The Law Society’s Quality Practice Standard (QPS) accreditation recognises practices that have developed and adhere to standard internal processes designed to provide a consistent approach to management and to improve customer satisfaction.

Quality management practices are an invaluable tool for managing risk, formalising internal work practices and improving client satisfaction. QPS accredited legal practices are entitled to a 7% discount for the first year on professional indemnity insurance premiums, and 5% discount thereafter.

Find out more about how to become a QPS accredited law practice here.

Anti-Money Laundering and Counter-Terrorism Financing Reform

In November 2024, Parliament passed a bill to amend the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), which will extend the regime to include certain high-risk services provided by lawyers and other professionals

Find out more on the Law Society’s dedicated AML/CTF webpage here.