Leading costs firm Harmans has launched an app featuring, it says, the first-ever interest calculator.
Users can input various data such as date of order, amount of offer, costs to date and any payments on account to calculate totals inclusive and exclusive of interest. Previously this calculation could only be done using a complex formula (and guesswork).
Other features include a court directory and link to the latest court fees. The tool is available to download on iPhones and android devices.
Earlier this month, the new senior costs judge said judges dealing with costs budgeting needed more training as some did not have the ‘faintest idea’. Master Gordon-Saker said many judges lacked the experience and knowledge to deal with costs estimates.
Costs budgeting has been in place in multi-track cases since April 2013 as a result of the Jackson reforms.