SolvedBKLM154700 | Introduction: structure: steps for determining the amount of the bank levy: step 7
From HM Revenue & Customs · Bank Levy Manual
Paragraph 6(2) of Schedule 19
The final computation of the bank levy is calculated by applying the bank levy rate to the chargeable equity and liabilities taken from Step 5 or Step 6.
Step 7 applies the current rate of the bank levy. This is modified by paragraph 7 of Schedule 19, so that the relevant rate is applied to the liabilities for the relevant chargeable period. See BKLM154800. The relevant rates for the different periods are:
| Rate Period | Rate for chargeable equity and long term liabilities | Rate for short term chargeable liabilities |
|---|---|---|
| 1 January 2011 - 28 February 2011 | 0.025% | 0.05% |
| 1 March 2011 - 30 April 2011 | 0.05% | 0.1% |
| 1 May 2011 - 31 December 2011 | 0.0375% | 0.075% |
| 1 January 2012 - 31 December 2012 | 0.044% | 0.088% |
| 1 January 2013 to 31 December 2013 | 0.065% | 0.130% |
| 1 January 2014 to 31 March 2015 | 0.078% | 0.156% |
| 1 April 2015 to 31 December 2015 | 0.105% | 0.21% |
| 1 January 2016 to 31 December 2016 | 0.09% | 0.18% |
| 1 January 2017 to 31 December 2017 | 0.085% | 0.17% |
| 1 January 2018 to 31 December 2018 | 0.08% | 0.16% |
| 1 January 2019 to 31 December 2019 | 0.075% | 0.15% |
| 1 January 2020 to 31 December 2020 | 0.07% | 0.14% |
| Any time on or after 1 January 2021 | 0.05% | 0.10% |