CTSA: quarterly instalments: very large companies: bank levy
All companies that pay bank levy are large for the purposes of applying the instalment payment regime.
For accounting periods beginning on or after 1 April 2019, a company that pays bank levy will be very large if its profits for the accounting period exceed £20m. This threshold is reduced proportionately if the accounting period is less than 12 months and where the company has one or more related 51% group companies (CTM92520).
A company that is not very large will be treated as large regardless of the level of profits.
If a company that pays bank levy is very large, the payments of bank levy will not move to the dates in CTM92805 but will remain on the current instalment dates. However, all other liabilities including Bank CT surcharge will move to the dates for very large companies.
Bank levy is excluded from the total liability in applying the £10,000 test to determine if a company is very large (CTM92800).