A sum in lieu of interest will be calculated on client money held by us for each client matter at the conclusion of the transaction. The interest rate used will be the rate of interest which has been applied by Lloyds Bank plc from time to time, during the period that the money was held in our account, to Tollers LLP general client account. The sum in lieu of interest will be paid without deduction of tax.
Where the sum calculated is less than £20 it will be retained by Tollers LLP. An amount in excess of £20 will be paid to the client without deduction of tax.