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Compulsory Acquisition | Interest on... | Inland Revenue Rates | Corporation Tax

Law Society Interest Rate

Date Rate Date Rate
8.2.94 9.25% 6.11.97 11.25%
12.9.94 9.75% 4.6.98 11.50%
7.12.94 10.25% 8.10.98 11.25%
2.2.95 10.75% 5.11.98 10.75%
13.12.95 10.50% 10.12.98 10.25%
18.1.96 10.25% 7.1.99 10.00%
8.3.96 10.00% 4.2.99 9.50%
6.6.96 9.75% 8.4.99 9.25%
30.10.96 10.00% 10.6.99 9.00%
6.5.97 10.25% 8.9.99 9.25%
6.6.97 10.50% 4.11.99 9.50%
10.7.97 10.75% 13.1.00 9.75%
7.8.97 11.00% 10.2.00 10.00%

The Law Society rate is 4% above Barclays Bank base rate.

Compulsory Acquisition
Effective Rate                 Top

Date %
1.4.96 5.50%
1.7.96 5.25%
31.12.96 5.50%
30.6.97 6.00%
30.9.97 6.50%
31.12.97 6.75%
30.6.98 7.00%
31.12.98 5.75%
31.3.99 5.00%
30.6.99 4.50%
30.9.99 4.75%
4.1.00 5.00%
31.3.00 5.50%

Rate of interest after entry. Source: DOE S.32 Land Compensation Act 1961


Interest on:                 Top

Judgment Debts
Date Rate
10.11.82 12.00%
16.4.85 15.00%
1.4.93 8.00%

As from 1.7.91 above rates apply in County Courts as well
as High Court if £5K+.

Funds in Court
Date Basic Rate Special Rate
1.1.89 10.75% 13.00%
1.11.89 11.25% 14.25%
1.4.91 9.50% 12.00%
1.10.91 8.00% 10.25%
1.2.93 6.00% 8.00%
1.8.99 5.25% 7.00%


Interest in Personal Injury cases: Future Earnings - none.
Pain & suffering - 2%.Special Damages: same as "Special Rate" - see
Funds in Court above (½ Special Rate payable from date of accident
to date of judgment).

Govt Actuarial Tables
Index Linked, Inflation 5%, Over 5 years (FT 9.6.00)
8.6.00 1.89%
7.6.00 1.88%
Year ago 1.88%

 

FT-SE (on last day of month)
Jan 1998 5458.5
Feb 1998 5767.3
Mar 1998 5932.2
Apr 1998 5928.3
May 1998 5870.7
June 1998 5832.5
July 1998 5837.0
August 1998 5249.4
September 1998 5064.4
October 1998 5438.4
November 1998 5743.9
December 1998 5882.6
January 1999 5896.0
February 1999 6175.1
March 1999 6295.3
April 1999 6552.2
May 1999 6226.2
June 1999 6318.5
July 1999 6231.9
August 1999 6246.4
September 1999 6029.8
October 1999 6255.7
November 1999 6597.2
December 1999 6930.2
January 2000 6268.5
February 2000 6232.6
March 2000 6540.2
April 2000 6327.4
May 2000 6359.3

 

Euro Rate
Money Laundering Regulations 1993
1999: €1 = £0.705591 (€15,000 = £10,584)
2000: €1 = £0.6393 (€15,000 = £9,589)

The Euro Rate for each year is the rate applicable on 31st October
of previous year as published in the Official Journal.

Inland Revenue Rates                Top

"Official Rate"*
Effective Date Rate
6.10.95 7.75%
6.2.96 7.25%
6.6.96 7.00%
6.11.96 6.75%
6.8.97 7.25%
6.3.99 6.25%

*Benefits in Kind: Loans to employees earning £8,500+ - official rate
of interest. Official rate for loans in foreign currencies: Yen: 3.9% w.e.f.
6.6.94; Swiss F: 5.5% w.e.f. 6.7.94 (previously 5.7% w.e.f. 6.6.94).

Interest on Unpaid & Overpaid Inheritance Tax and CGT
Effective Date Rate
6.12.92 5.00%
6.1.94 4.00%
6.10.94 5.00%
6.3.99 4.00%
6.2.00 5.00%

 

Interest on Late Paid Income Tax, CGT, Stamp Duty and Stamp Duty Reserve
Effective Date Rate
6.1.94 5.50%
6.10.94 6.25%
6.3.95 7.00%
6.2.96 6.25%
31.1.97 8.50%
6.8.97 9.50%
6.1.99 8.50%
6.3.99 7.50%
6.2.00 8.50%

 

Interest on Overpaid income Tax, CGT, Stamp Duty and Stamp Duty Reserve
Effective Date Rate
6.1.94 5.50%
6.10.94 6.25%
6.3.95 7.00%
6.2.96 6.25%
31.1.97 4.00%
6.8.97 4.75%
6.1.99 4.00%
6.3.99 3.00%
6.2.00 4.00%


Corporation Tax on Chargeable Gains: Indexation Allowance: April 2000           Top

RI YEAR Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
1982 - - 1.141 1.099 1.084 1.078 1.078 1.077 1.078 1.068 1.058 1.062
1983 1.059 1.050 1.046 0.018 0.010 0.005 0.994 0.985 0.977 0.970 0.963 0.958
1984

0.959

 0.951 0.944 0.919 0.912 0.907 0.907 0.891 0.888 0.876 0.870 0.872
1985 0.865 0.850 0.833 0.795 0.787 0.783 0.786 0.781 0.782 0.779 0.773 0.771
1986 0.767 0.761 0.759 0.742 0.738 0.739 0.744 0.739 0.730 0.728 0.713 0.707
1987 0.701 0.694 0.691 0.671 0.669 0.669 0.671 0.666 0.661 0.653 0.645 0.647
1988 0.647 0.640 0.634 0.608 0.602 0.596 0.594 0.576 0.569 0.553 0.546 0.542
1989 0.532 0.521 0.515 0.488 0.479 0.474 0.473 0.469 0.459 0.448 0.435 0.432
1990 0.423 0.415 0.401 0.360 0.348 0.343 0.341 0.328 0.316 0.305 0.308 0.309
1991 0.306 0.299 0.295 0.278 0.274 0.268 0.271 0.268 0.264 0.259 0.254 0.254
1992 0.254 0.248 0.244 0.226 0.221 0.221 0.226 0.225 0.220 0.216 0.218 0.222
1993 0.234

0.226

 0.221 0.210 0.206 0.206 0.209 0.204 0.199 0.200 0.201 01997
1994 0.204

0.197

 0.194 0.180 0.176 0.176 0.181 0.176 0.173 0.171 0.171 0.165
1995 0.165

0.158

 0.153 0.142 0.137 0.136 0.141 0.135 0.129 0.136 0.136 0.129
1996 0.132

0.127

 0.123 0.115 0.112 0.112 0.116 0.111 0.106 0.106 0.105 0.102
1997 0.102

0.097

 0.095 0.088 0.084 0.080 0.080 0.073 0.068 0.066 0.066 0.063
1998 0.066

0.061

 0.058 0.046 0.040 0.041 0.044 0.039 0.035 0.034 0.035 0.035
1999 0.041

0.039

 0.037 0.030 0.027 0.027 0.030 0.028 0.023 0.022 0.020 0.017
2000 0.021

0.016

 0.010 - - - - - - - - -

The above table is only applicable to bodies liable to corporation tax on their chargeable gains. Individuals and others liable to capital gains
tax are not entitled to indexation allowance for any period after April 1998.
The RI month is the month in which the allowable expenditure was incurred or March 1982 where the expenditure where the expenditure
was incurred on or before 31 March 1982. To calculate any possible chargeable gain, first increase the original cost of the investment by
use of the appropriate indexation factor. Deduct the result from the sales proceeds. Any profit is a chargeable gain.
Ie Sale proceeds - [original cost x (1 + indexation factor)] = gain(+)/loss(-)