CLIENT
MONEY.

1. Client monies will usually be held in general client bank accounts, where funds for different matters and clients are pooled.
2. A sum in lieu of interest will be payable on amounts held in general client bank accounts on the following basis:

2.1.  Interest will be calculated from the date the money has been cleared in our bank account and regarded by the bank as cleared funds.  Simple interest will then be paid or credited when the monies are paid out for the purposes for which they were required. This is applicable to each and every deposit of client funds into client account.

 2.2.  The level of interest you can expect to receive, referred to as a payment in lieu of interest earned, will be based on the advertised interest rates payable by our primary bank for the applicable period on the relevant amount, as if it had been held separately in a designated client account in your name. The rates currently in force can be found here NatWest Interest Rates

2.3 We will not account to you for any interest in the following circumstances.

• if the total amount of interest calculated is less than £75.00, no interest will be paid or credited to the client. This is because our administrative charges would exceed this amount. 
• Where an additional interest calculation is made on a probate matter after the final distribution to all residual beneficiaries has been made, and the additional interest calculated would result in each and every residual beneficiary being due less than £75. This is because our administrative costs would exceed this amount. 
• On money held for the payment of a professional disbursement
• On an advance from us into our general client account to fund a payment on your behalf in excess of funds already held for you in that account.
• Funds have been held on deposit for 14 working days or less. This timeframe is applicable to each and every deposit of client funds into client account.

3. We will generally pay interest to the client gross, and it is the client’s responsibility to declare this amount to HMRC.
4. This policy will be reviewed periodically. (Last reviewed 11^th July 2025)