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Changes to interest rates for Court Funds Office special and basic accounts

Changes to interest rates for Court Funds Office special and basic accounts
Published on: 04 August 2020
Published by: LexisPSL
  • Changes to interest rates for Court Funds Office special and basic accounts
  • Why was the special account rate reduced from 0.5% to 0.1% on 1 June 2020?
  • So how and why does BoE base rate impact on the CFO?
  • What are the practical implications of the change to special account interest rates for personal injury and clinical negligence claimants?
  • What factors influenced the Lord Chancellor’s decision to change the special account interest rate?
  • How should practitioners adjust their working practices to reflect the changes to the special account rate?

Article summary

Personal Injury analysis: Matthew Flinn of 1 Crown Office Row discusses the changes to interest rates for Court Funds Office (CFO) special and basic accounts which were introduced on 1 June 2020. Flinn explains the reasoning behind the change, its practical implications and how practitioners should adjust their working practices in light of the change. or take a trial to read the full analysis.

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