Commentary

D7.709 Bank levy—calculation of charge

Corporate tax
Corporate tax | Commentary

D7.709 Bank levy—calculation of charge

Corporate tax | Commentary

D7.709 Bank levy—calculation of charge

The legislation sets out a series of seven calculation steps for the bank levy, by comparing the amount of chargeable equity and liabilities (see D7.710 for chargeable periods ending before 1 January 2021 and D7.710A for chargeable periods ending on or after 1 January 2021) with a £20bn threshold. Banks, building societies and other groups with chargeable equity and liabilities of less than £20bn will not be subject to the bank levy. Various categories of equity and liabilities are excluded (ie certain forms of balance sheet funding are not charged to the bank levy), see

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