New Guideline Hourly Rates – January 2024

The 1 January 2024 saw the increase of guideline hourly rates and the table below details these (old rates in brackets):

 

GradeFee earnerLondon 1London 2London 3National 1National 2
ASolicitors and legal executives with over eight years’ experience£546 (£512)£398 (£373)£301 (£282)£278 (£261)£272 (£255)
BSolicitors and legal executives with over four years’ experience£371 (£348)£308 (£289)£247 (£232)£233 (£218)£233 (£218)
COther solicitors or legal executives and fee earners of equivalent experience£288 (£270)£260 (£244)£197 (£185)£190
(£178)
£189
(£177)
DTrainee solicitors, paralegals and other fee earners£198
(£186)
£148 (£139)£138 (£129)£134 (£126)£134
(£126)

 

From a practical point of view, the table helpfully sets out the previous guideline rates so all parties can see what they have increased from.

A number of points spring to mind, including:

  • Does your retainer allow you to increase your hourly rates?
  • Has the Client been informed of any increase in rates, in order to comply with the indemnity principle?
  • These are only “guidelines” so what impact will they have on assessment?

There are a few other discussions that I have had with some clients, and if you wish to discuss anything related to the change in rates, then please do contact the writer, Tom Brocklebank, on 01228 815394 or by email here.

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