Chargeable equity and liabilities: de minimis limit for equity and liabilities: foreign banking groups
Paragraphs 17(18) - (19) of Schedule 19
In order to reduce the compliance burden, foreign banking groups that have numerous small entities may exclude any equity and liabilities of relevant UK banking sub-groups (Type A - see BKLM322100) and UK resident entities (Type B - see BKLM322200) and non-UK resident entities (Type C - see BKLM322300) and UK allocated equity and liabilities of any relevant foreign bank (Type D - see BKLM322400) from the bank levy where the equity and liabilities fall below a de minimis limit.
If at the end of the chargeable period, the amount of gross equity and liabilities of any relevant member or the amount of UK allocated equity and liabilities of a relevant foreign bank on the balance sheet is less than £50 million then the entity/sub-group does not have to be included when calculating the total chargeable equity and liabilities under the aggregation process.
The de minimis limit is subject to an upper limit of £200 million for the whole group for a chargeable period.