Client Account Interest Policy

Money held for and due

Money held on your behalf is paid into a client account at such bank as we reasonably employ in accordance with the CLC Accounts Rules.

We will pay money due to you by bank transfer/cheque or BACs as agreed where reasonably possible, or as we think appropriate.

Our policy on the payment of interest in relation to money that we hold on your behalf is to account to you for all sums earned if the total exceeds £20. Below this sum we will retain any such sums earned without accounting to you for them. We believe that this policy is fair and reasonable, and we keep it under continual review in the light of changing interest rates in particular.

When we are in receipt of large amounts of money we will usually place such funds on specific deposit, in which case you will receive all the interest received. General payments of interest are made without deduction of tax but tax is deducted at source on specific deposits.

Please note that the rates of interest that we might earn on your behalf are likely to be lower than you might otherwise obtain since we need to have instant access to all such funds.
Our policy on the payment of interest in relation to money that we hold on your behalf is to account to you for all sums earned if the total exceeds £20. Below this sum we will retain any such sums earned without accounting to you for them. We believe that this policy is fair and reasonable, and we keep it under continual review in the light of changing interest rates in particular.

When we are in receipt of large amounts of money we will usually place such funds on specific deposit, in which case you will receive all the interest received. General payments of interest are made without deduction of tax but tax is deducted at source on specific deposits.

Please note that the rates of interest that we might earn on your behalf are likely to be lower than you might otherwise obtain since we need to have instant access to all such funds.

Where interest earned on money that we hold on your behalf exceeds £50 this will be accounted to you. Below this sum we will retain any such sums earned without accounting to you for them. Please note that the rates of interest that we might earn on your behalf are likely to be lower than you might otherwise obtain since we need to have instant access to all such funds.

Where after completion of our work, or for any other reason, we retain a balance of your money we will return it to you on termination of instructions and completion of the matter.

We will at all times take all reasonable steps to keep your money safe.

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