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Am I entitled to any interest on the compensation I receive ?
Yes, but only if your compensation is for more than £200.
On Special Damages you are entitled to interest at half the "special investment account rate". This is a special interest rate applied to court funds. This changes from time to time, it is currently 6%. So you would be entitled to half this rate.
On General Damages you are entitled to 2% per year, but only for those losses relating to your "pain and suffering" and inability to carry out day-to-day tasks or hobbies. However, the court may in special circumstances be able to award more than 2%.
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- What are "General Damages"?
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- Am I entitled to any interest on the compensation I receive?
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