The report was finished in September, well inside the deadline, and posting it a fortnight late is still a breach in its own right.

Practise this topic with exam-style questions: sqe1prep.co.uk

In this episode:

• Obtain the report within six months of the accounting period end
• Deliver it to the SRA only if it is qualified
• Rule 12.5 is two limbs: chartered body, and registered auditor
• Keep records six years from the record, not from the file
• Exemption from the report exempts you from nothing else

Narrated by an AI voice from a script written and checked by the editors at sqe1prep.co.uk. Educational content only — not legal advice. SQE1 Prep is not affiliated with or endorsed by the SRA or Kaplan.

Six years of paying someone else's mortgage can buy you nothing at all under a resulting trust, while signing the loan on day one buys you a share outright.

Practise this topic with exam-style questions: sqe1prep.co.uk

In this episode:

• A resulting trust gives effect to the transferor's presumed intention
• Advancement is presumed from a father, never from a mother
• A resulting trust is fixed at acquisition and never grows
• In a jointly owned family home, equity follows the law
• A failed purpose sends the money back on a resulting trust

Narrated by an AI voice from a script written and checked by the editors at sqe1prep.co.uk. Educational content only — not legal advice. SQE1 Prep is not affiliated with or endorsed by the SRA or Kaplan.

Two clients, one pot of money, and a trainee who is certain you need two bank accounts to keep it straight.

Practise this topic with exam-style questions: sqe1prep.co.uk

In this episode:

• Two different things get called a joint account, and only one is rule 9
• The ledger separates client money, not the bank account
• Rule 9 leaves statements and the bills record, and nothing else
• A client's own account is one you operate as signatory
• Money you do not hold never goes on a client ledger

Narrated by an AI voice from a script written and checked by the editors at sqe1prep.co.uk. Educational content only — not legal advice. SQE1 Prep is not affiliated with or endorsed by the SRA or Kaplan.