Interest Payment Policy

We  may credit you with interest on any funds which we hold in our client account on your behalf. 

Our policy on the payment of interest is as follows:

• due to the administrative costs involved, we will not pay interest if the sum calculated is less than £50 in total for the full period during which we hold your money in our client account
• interest will accrue at the rate payable by our bank (Barclays) on an instant access deposit account. This may be less than the rate at which you could have invested the money yourself
• if we hold sums of money for you in relation to different matters we will normally treat the money relating to each of the different matters separately
• the calculation of interest will start when the funds become cleared. Cheque and debit/credit card payments will take four working days from when the funds are receipted into the client account and four working days from authorisation on WorldPay
• interest may be applied at any time but is usually done at the end of the matter
• all interest is paid gross and we will not notify HMRC or pay any tax due. It is your responsibility to notify HMRC of any interest received.

This policy was last reviewed in July 2024.