No one welcomes having to pay their rent, but it’s a fact of life for a member of chambers. For many, the role of Treasurer or being the manager tasked with financial management of a set means being faced with an unpleasant challenge. There is a potential conflict of interest between a chambers and its members when it comes to setting and collecting rent. Can this be addressed and what are the financial controls that should be in place to ensure that members can see their money is spent effectively?
From fee note to receipt of funds, to rent invoice, to payment of chambers’ costs, the financial management of a set should be a straightforward task. One of the key benefits of working within a chambers is that it allows members to spread the costs of clerking, premises and administration bet...