Section 54 | Charge to the levy

From legislation.gov.uk

(1)The levy is charged for a financial year if—

(a)a person carries on a regulated business at any point during the financial year, and

(b)the person’s UK revenue for the financial year is in any of the bands set out in section 55.^F1

(2)The amount charged for a financial year is—

(a)in the case of a person whose UK revenue for the financial year is in band A, £10,200;^F2

(b)in the case of a person whose UK revenue for the financial year is in band B, £36,000;^F3

(ba)in the case of a person whose UK revenue for the financial year is in band C, £500,000;^F4

(c)in the case of a person whose UK revenue for the financial year is in band D, £1million.^F5

(3)The amounts specified in subsection (2) are to be proportionately reduced in the case of a person who carries on a regulated business only for part of the financial year.

(4)No amount of payment made in respect of the levy is to be taken into account in calculating profits or losses for the purposes of income tax or corporation tax.

Notes

F1
Words in s. 54(1)(b) substituted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(1)(a)(4)
F2
Sum in S. 54(2)(a) substituted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(1)(b)(i)(4)
F3
Words in s. 54(2)(b) substituted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(1)(b)(ii)(4)
F4
S. 54(2)(ba) inserted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(1)(b)(iii)(4)
F5
Word in s. 54(2)(c) substituted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(1)(b)(iv)(4)