This tax information and impact note updates the definitions of high quality liquid assets and high quality securities within the Bank Levy legislation.
HM Revenue and Customs is updating the definitions of high quality liquid assets and high quality securities to refer to the new regulatory regime that now applies to banks and building societies in the UK.
Draft legislation: the Bank Levy (Amendment of Schedule 19 to the Finance Act 2011) Regulations 2016 has also been published.
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