Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Bank Levy Manual

From
HM Revenue & Customs
Updated
, see all updates

Relevant entities and groups: introduction

The bank levy is charged on certain entities and groups and applies to chargeable equity and liabilities reported in:

  • the global consolidated balance sheet of UK banking groups and building society groups
  • the aggregated balance sheets of UK sub-groups, UK subsidiaries, and any foreign subsidiaries held by UK subsidiaries, together with a proportion (determined in accordance with these provisions) of the balance sheets of non-resident banks operating in the UK through permanent establishments (see BKLM245000) which are members of foreign banking groups, and
  • the balance sheets of UK resident banks, non-resident banks operating in the UK through permanent establishments and UK banking sub-groups which are members of non-banking groups (see BKLM241000).

The bank levy is based upon the total chargeable equity and liabilities as reported in the relevant balance sheets of the above groups, (the ‘relevant group’) (see BKLM241000) at the end of a chargeable period (see BKLM152000).

The bank levy also applies to the chargeable equity and liabilities reported in the balance sheets of UK banks (see BKLM243000), and non-resident banks operating in the UK through permanent establishments (see BKLM245000) and building societies that are not members of groups for a chargeable period, called ‘relevant entities’.