Unlike most other types of claims in the employment tribunals, claimants in discrimination cases can claim interest on losses incurred up to the date of judgment. The interest accrues on a daily basis and is simple, not compounded.
The applicable interest rate in England and Wales is set by the Lord Chancellor. The interest rate was reduced from 6% to 3% on 1 February 2009 and was further reduced to 1.5% on 1 June 2009.
For further information please get in touch.
Content is for general information purposes only. The information provided is
not intended to be comprehensive and it does not constitute or contain
legal or other advice. If you require assistance in relation to any
issue, please seek specific advice relevant to your particular