This practice note outlines the regulatory requirements to consider when closing down your practice.
There are numerous actions that need to be taken when closing down a firm and doing so will require forward planning. The process for closing a practice differs depending on whether or not there is a successor practice in place.
For further information about the successor practice rules consult our practice note on Professional Indemnity Insurance (PII).
This practice note is the Law Society’s view of good practice in this area, and is not legal advice. For more information see the legal status.