BANK LEVY TO BE CHARGED IN RELATION TO CERTAIN GROUPS OF ENTITIES

4(1)  The bank levy is charged if, as at the end of a period of account (“the chargeable period”) of an entity (“the parent entity”)–

(a)the parent entity is a parent and is not a subsidiary of any other entity, and

(b)the group (“the relevant group”) for which the parent entity is the parent is a group within sub-paragraph (2).

4(2)  The groups within this sub-paragraph are–

(a)a UK banking group,

(b)a building society group,

(c)a foreign banking group, or

(d)a relevant non-banking group.

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