Being injured as a result of someone else’s negligence is a serious matter. It can have huge implications for you and your family. Our legal experts have a wealth of experience in handling personal injury cases.
It’s a sad fact that not all medical or dental treatment has a successful outcome. At Browell Smith & Co Solicitors our team of highly-skilled solicitors have the legal and medical expertise to assist you when you need it most.
Browell Smith & Co Solicitors’ experienced and dedicated family law team prides itself on providing outstanding service to our clients. We will listen to you, explain to you your options and we are committed to finding our clients the best possible outcome.
We understand organising your affairs for later life can be a daunting prospect. At Browell Smith & Co Solicitors our experts are here to make this process as straightforward as possible.
Browell Smith & Co Solicitors understand that moving home can be one of the most exciting but also most stressful times of your life. This is why we feel it’s important you have the right legal team to guide you through the process.
Browell Smith & Co Solicitors have been serving the North East for more than 20 years, helping over 160,000 clients through the good times, the sad times, in sickness and in health.
This policy sets out how we deal with interest on money held by Browell Smith and Co Solicitors Ltd (the firm) for a client. In accordance with the Solicitors Accounts Rules 2019, it is the firm’s policy to account to its clients for interest on a fair and reasonable basis for both the client and the firm.
When monies are received on behalf of the client, it will be paid into general client account currently with Virgin money who are the firm’s bank. The general client account will hold pooled amounts for different matters for its clients. These are held on an instant access account to facilitate the transaction.
Our client ledgers will be reviewed regularly. We will put client funds into a designated deposit account if funds are to be held longer than 28 days and more then £50,000. Otherwise the below will apply.
If client monies are held in a separate designated deposit account (i.e. a specific bank account, for a specific matter) all interest earned on that account will be credited to that bank account and paid to the client in full (subject to any applicable withholding tax). We will only transfer funds to a Designated Deposit Account on request, provided that, in the opinion of Browell Smith and Co Solicitors Ltd’s Accounts Department it is equitable to do so, taking into account amongst other factors, the administrative cost of doing so.
Clients are unlikely to receive as much interest as might have been obtained had they held the funds and invested the money by themselves
If we hold money in a general client account on your behalf, or if money should have been held on your behalf but was not, then we will account to you for a sum in lieu of interest (gross) calculated as below.
We will not account to you for any interest in the following situations:
Our obligations for accounting interest to you for the following situations:
The firm’s accounts department will prepare the calculation as instructed by the fee earner.
Interest is paid gross and it is the client’s responsibility to declare gross interest received to HMRC.
Interest is paid by Virgin money to the firm on the aggregate of all client money held in the general client account and, subject to any interest paid to the client, is for the benefit of the firm. If the bank in which the firm holds funds should fail, the firm reserves the right to disclose to the FSCS the names and other details for clients whose money is held on the general client account in order for the client to claim compensation, the limit of which is currently £85,000.
This policy is reviewed from time to time by the COFA and directors of the firm
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