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HMRC internal manual

Bank Levy Manual

From
HM Revenue & Customs
Updated
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Introduction: structure: steps for determining the amount of the bank levy: step 7

Paragraph 6(2) of Schedule 19

The final computation of the bank levy is calculated by applying the bank levy rate to the chargeable equity and liabilities taken from Step 5 or Step 6.

Rate Period Rate for chargeable equity and long term liabilities Rate for short term chargeable liabilities
     
1 January 2011 - 28 February 2011 0.025% 0.05%
1 March 2011 - 30 April 2011 0.05% 0.1%
1 May 2011 - 31 December 2011 0.0375% 0.075%
1 January 2012 - 31 December 2012 0.044% 0.088%
1 January 2013 onwards 0.0525% 0.105%

Note - special provisions apply for periods that begin before 1 January 2012 and 2013 - see BKLM154800