I've recently learnt that a company owes me over £1k from smaller amounts that I was overcharged over a 5 year period. I have contacted them several times I won't go into full details but they were ordered by a court to refund several people, most of which received their payouts following the court decision.
I have a break down of the yearly amounts I'm owed but I can't work out how to calculate the interest I should request...
For example if they owed me £150 in 2021 and say £200 in 2022 how much would that be worth now?
I've looked at it on the gov.uk site & it says to calculate the yearly interest multiply it by 0.08%
So for 2021, 150 x 0.08, do I then multiply that by the number if years that have passed & the same for the 200 x 0.08 x the number of years?
Can someone help me work it out simply?