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HMRC internal manual

Bank Levy Manual

Double Taxation Relief: France: how relief is given

Claims - Regulations 8 and 9 of SI2012/458

Relief can only be given for any relevant French bank levy following a claim. As the amount of bank levy chargeable is returned on the normal company Self Assessment return the normal rules relating to claims under Corporation Tax Self Assessment apply.

The claim must be made by the responsible member of the group or by the relevant entity (see BKLM441000).

Relief will only be given once the French bank levy has been paid and cannot be claimed for amounts due.

The claim is limited to the lesser amount of the UK bank levy (that is the UK bank levy can only be reduced to £nil) or the amount of French bank levy attributable to the balance sheets within the scope of the UK bank levy.

Time limit for making a claim - Regulation 8 of SI2012/458

A claim for relief must be made within 4 years of the end of the accounting period for which the bank levy is chargeable. Alternatively, where the French bank levy is paid later than this, a claim may be made up to 12 months after the French bank levy has been paid.


The responsible member returns a bank levy amount of 100 for the accounting period ended 31 December 2015. Credit for any double taxation relief can be claimed until 31 December 2019.

Thereafter on 17 March 2020 the French parent company pays an extra 80 of French bank levy of which 30 relates to the UK sub-group. The responsible member then has until 17 March 2021 to claim any extra relief.

Exchange rates - Regulation 7 of SI2012/458

Normally the bank levy and the equivalent foreign levy will be in different currencies. The exchange rate to be used is the spot rate of exchange for the last day of the chargeable period in relation to which credit is claimed.

The source of the spot rate is not defined. You should accept any reasonable rate such as that shown on the Bank of England website.