- Alcester Office +44 (0)1789 765522
- Bedford Office +44 (0)1234 400000
- Birmingham, New St. Office +44 (0)121 270 5666
- Birmingham, Newhall St. Office +44 (0)121 703 2606
- Bristol Office +44 (0)1454 275 190
- Cardiff Office +44 (0)29 2240 8700
- Evesham Office +44 (0)1386 425300
- Gatwick Office +44 (0)1293 602890
- Harrow Office +44 (0)20 8907 4366
- Leicester Office +44 (0)116 255 9911
- Leigh Office +44 (0)1942 673311
- Lichfield Office +44 (0)1543 414426
- Luton Office +44 (0)1582 720175
- Northampton Office +44 (0)1604 233 200
- Redditch Office +44 (0)1527 406363
- Solihull Office +44 (0)121 705 2255
- Stopsley Office +44 (0)1582 453 366
- Sutton Coldfield Office +44 (0)121 355 6118
- Tunbridge Wells Office +44 (0)1892 553090
- Walkden Office +44 (0)161 790 1411
- Walsall Office +44 (0)1922 720000
- Warrington Office +44 (0)1925 632267
- Westhoughton Office +44 (0)1942 816515
- Whitefield Office +44 (0)161 796 7920
- Wigan Office +44 (0)1942 244294
Interest Policy
Legal Services
In accordance with the Solicitors Regulation Authority’s Accounts Rules 2011 we are required to account to you for interest on money held by us in our client account when it’s fair and reasonable to do so. The holding of client money is incidental to the carrying out of clients’ instructions. In addition, we are required to hold client money in an instant access account to facilitate transactions. As a result, the areas of interest paid under this policy are unlikely to be as high as those obtainable by yourself.
Interest will be paid where the amount of interest calculated exceeds £30.00.
Where money is held in relation to separate matters for you we will treat the matters and money as separate, unless the matters are so closely related that they should be considered together.
Where client monies are held in our general client account we will pay interest without deducting tax at source. You will be responsible for declaring any interest to HM Revenue & Customs. Where client monies are held in a separate designated client account, interest is usually paid net of basic rate income tax.
Interest will be calculated on a daily basis, using the rate of interest offered to business customers on instant access deposit accounts at the bank where we hold general client funds.
Interest will be calculated on cleared client funds. In the case of cheques received, this will be 10 days after the cheque has been deposited with our bank, and for amounts received in cash, or via credit or debit card, standing orders, BACS and CHAPS, interest will accrue from the day of receipt into our client account.
We will normally account to you for interest at the conclusion of the matter. You may contract out of receiving interest by signing a written agreement with us.
This interest policy, including the de minimis limit of £30, will be reviewed periodically, particularly if changes are made to the Bank of England’s Base Rate.