Collection and management: responsible member for groups: the responsible member
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’.
The responsible member is established using the following process:
- The group may nominate an entity to be the responsible member provided certain conditions are or will be met at the end of the chargeable period. See BKLM442000.
- If no entity is able to meet the nomination conditions or if there has not been an entity nominated as a responsible member for the chargeable period then the legislation provides a default position setting out who the responsible member will be. Again certain conditions apply. See BKLM443000.
- Where there is no entity nominated, or none which meets the conditions required for either nomination or the default position to apply for a chargeable period, then HMRC will determine the responsible member for that chargeable period. See BKLM444000.