HMRC internal manual

Bank Levy Manual

Chargeable equity and liabilities: excluded equity and liabilities: current/deferred tax liabilities and liabilities to bank levy

Paragraph 35 of Schedule 19

Any amounts which are, or would have been, recognised in the consolidated financial statements or financial statements and are ‘relevant tax liabilities’, are excluded from the bank levy.

For statements prepared under the IAS or UK GAAP, ‘relevant tax liabilities’ are the current and deferred tax liabilities as defined within IAS 12 (for IAS) or FRS 16 or 19 (for UK GAAP) and also include amounts representing the bank levy.