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 0.5%. 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%.
Questions & Answers
- When can I make a claim?
- Who do I claim against?
- How do I make a claim?
- What do I need to do before I see a solicitor?
- Can I claim for anything else other than my injury or illness?
- Can I get Legal Aid?
- Is there a time limit for making a claim?
- Can I make any other claims apart from a court claim?
- What if I was partly to blame for the accident?
- What are "General Damages"?
- What are "Special Damages"?
- Am I entitled to any interest on the compensation I receive?
- What are "disbursements"?