BKLM154700 - 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.

Step 7 applies the current rate of the bank levy. This is modified by paragraph 7 of Schedule 19, so that the relevant rate is applied to the liabilities for the relevant chargeable period. See BKLM154800. The relevant rates for the different periods are:

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 to 31 December 2013	0.065%	0.130%
1 January 2014 to 31 March 2015	0.078%	0.156%
1 April 2015 to 31 December 2015	0.105%	0.21%
1 January 2016 to 31 December 2016	0.09%	0.18%
1 January 2017 to 31 December 2017	0.085%	0.17%
1 January 2018 to 31 December 2018	0.08%	0.16%
1 January 2019 to 31 December 2019	0.075%	0.15%
1 January 2020 to 31 December 2020	0.07%	0.14%
Any time on or after 1 January 2021	0.05%	0.10%