Policy paper

The Taxation of Banks (Amendments to the Corporation Tax Act 2009, the Corporation Tax Act 2010 and Finance Act 2011) Regulations 2022

This tax information and impact note applies to banking companies and groups that include a banking company, within the charge to Corporation Tax.

From:
HM Revenue & Customs
Published
15 March 2022

Documents

The Taxation of Banks (Amendments to the Corporation Tax Act 2009, the Corporation Tax Act 2010 and Finance Act 2011) Regulations 2022

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Details

These regulations amend the definitions used in the bank-specific taxes, which are, the:

  • Bank Levy
  • bank Corporation Tax surcharge
  • Code of Practice on Taxation for Banks
  • bank loss relief restriction
  • restriction on tax relief for banks’ compensation payments

The regulations also make changes to the definitions to reflect regulated activities that have become regulated by the Financial Conduct Authority since the introduction of the bank-specific taxes.

Published 15 March 2022

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