Category Archives: Bank Levy

Finance Bill 2012 will increase the bank levy to 0.105 per cent. (0.0525 per cent. at the half rate) with effect from 1 January 2013. This increase is intended to off-set the benefit to banks of the reduction in the rate of corporation tax and to ensure that the bank levy raises its target revenue … Continue reading Bank Levy

The Government announced a further increase in the bank levy and indicated that this was, in effect, to offset the 2% reduction in corporation tax from next year. In his speech, the Chancellor also made reference to some of the initiatives that will be funded by the projected £2.5 billion  that will be generated annually … Continue reading Bank Levy

The Chancellor announced today that the Government will introduce a bank levy with effect from 1 January 2011. Rather than the 10 per cent proposed by the Liberal Democrats in their manifesto, the levy generally will be set at 0.07 per cent. The levy will be calculated by reference to: • the consolidated balance sheet … Continue reading Bank Levy