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Detail of feedback received
This document summarises the responses received to the consultation and sets out the changes the government will be making. The government has taken these responses into account and will focus on changes to the bank levy that will bring about real benefits in terms of simplification, fairness and alignment with regulation.
Draft legislation to introduce these changes was published for consultation on 10 December 2013.
The bank levy was introduced by Schedule 19 of the Finance Act 2011, with effect from 1 January 2011.
The government announced when it introduced the levy that it would review the design of the levy in 2013 to ensure it is operating efficiently.
This consultation sets out the parameters of the review, and the specific issues on which the government is consulting.