Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Discount rate definition

What does Discount rate mean? The discount rate is the interest rate used to convert future cash flows or losses into their present value, so that damages, settlements and valuations reflect the time value of money and investment risk. In commercial and finance matters (for example DCF/NPV valuations, lost profits claims, insolvency, pensions and tax), it is a descriptive term rather than a fixed legal definition. The chosen rate is typically risk‑adjusted (for example, based on a risk‑free rate plus premia or a WACC) and can be a key point of expert evidence. In personal injury and clinical negligence, a statutory personal injury discount rate applies...

Catastrophic personal injury: heads of claim, evidential requirements and valuation (Ogden, care, accommodation, medical expenses, vehicles, aids, Court of Protection fees), with 2025 discount rate update

Published by a LexisNexis PI & Clinical Negligence expert

Practice notes

On 2 December 2024, the Lord Chancellor confirmed a change to a positive discount rate of 0.5%, with the new rate taking effect from 11 January 2025. Under Schedule A1 to the damages Act 1996, later reviews must be conducted within five years of the conclusion of the last review; accordingly, the next review must commence on or before 2 December 2029. This Practice Note sets out the potential heads of claim in a case of severe injury and, where appropriate, offers limited guidance...

general damages for pain, suffering and loss of amenity

Damages for pain, suffering and loss of amenity are to be assessed in the customary fashion, with reference to the Judicial College Guidelines and relevant authorities. In cases of catastrophic brain injury, issues can arise regarding the claimant’s consciousness and therefore their perception of pain. It remains the case that an award for pain and suffering depends upon the claimant’s awareness of that suffering, as it is a subjective loss. For further guidance on valuing serious brain injury claims, see Practice Note: Valuing serious brain injury claims. The established approach to valuation continues to apply...

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Andrew Wilson

Andrew has more than 25 years’ experience of working in the fields of personal injury and occupational disease litigation, acting for both claimants and defendants. He trained at L Bingham & Co, gaining early experience in a number of important high profile claims involving the MIB. During the 1990s Andrew worked at Hextalls and then Kennedys, predominantly for defendants across a range of motor, employers’ liability and public liability matters many of which involved serious injuries or death. More recently, he has dealt with cases for claimants who have suffered serious injuries or occupational disease. He was a partner in a large specialist practice. He has provided seminars to solicitors and other legal professionals both for an external conference company and in house on the workings of the Civil Procedure Rules in the context of personal injury claims, amongst other...

Web page updated on 21/05/2026

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