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HMRC internal manual

Bank Levy Manual

From
HM Revenue & Customs
Updated
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Chargeable equity and liabilities: netting: the entity and the counterparty: UK resident banks and building societies which are not members of groups

Paragraph 22 of Schedule 19

For UK resident stand alone banks and building societies, for the purposes of netting the ‘entity’ is a UK resident bank or a building society and the ‘counterparty’ is any other entity.