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HMRC internal manual

Bank Levy Manual

From
HM Revenue & Customs
Updated
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Collection and management: introduction

Part 6 of Schedule 19

Part 6 of Schedule 19 deals with the collection and management of the bank levy.

The responsibility for collecting and managing the bank levy rests with HMRC.

Broadly the process of collecting and managing the bank levy is as follows:

Bank levy will be treated as if it were an amount of Corporation Tax. See BKLM431000.

All banking and building society groups (including relevant non banking groups) will have a single entity that is responsible for dealing with all aspects of administration relating to the bank levy. This entity is referred to in the legislation as the ‘responsible member’. See BKLM441000 for further information explaining how the responsible member is selected.

The responsible member will return the bank levy as part of its company tax return. See BKLM450000 for further information relating to the making of the return and all associated administrative processes.

The responsible member will also be responsible for payment of the bank levy. See BKLM460000 for further information relating to paying the bank levy.

Similar rules apply for a bank or building society that is not part of a group. Here the bank levy will be returned by that entity as part of its company tax return. See BKLM432000.