Regulation 14 Interest

An additional compensation claim may include a sum in respect of accrued interest on any payment under paragraph 2(2) of Schedule 2A to the Act but not on any amounts in respect of qualifying losses or costs.

Accrued interest is to be calculated in respect of the period beginning with the date on which the original amount was paid to the claimant or the claimant’s predecessor in title and ending with the date the additional compensation claim is paid, at an annual rate of 0.5 percentage points below the Bank of England base rate.

Where the original amount was paid in more than one installment the date of payment for the purposes of paragraph (2) is to be taken to be the date of the last payment.