Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

FEES 7A Annex 1 34SFGB money advice levy for the period from 1 April 2021 to 31 March 2022

Part 1

R

1This table shows the SFGB money advice levy applicable to each activity group (fee-block).

Activity group

SFGB money advice levy payable

A.1

Band Width (£ million of Modified Eligible Liabilities (MELs))

Fee (£/£m or part £m of MELs)

>10

1.1144

23

A.2

Band Width (no. of mortgages and/or home finance transactions)

Fee (£/mortgage)

>50

0.6014

23

A.3

Gross written premium for fees purposes (GWP

Band Width (£ million of GWP)

Fee (£/£m or part £m of GWP)

>0.5

26.734

233

PLUS

Best estimate liabilities for fees purposes (BEL)

Band Width (£ million of BEL)

Fee (£/£m of part £m of BEL)

>1

1.474

23

A.4

Gross written premium for fees purposes (GWP)

Band Width (£ million of GWP)

Fee (£/£m or part £m of GWP)

>1

12.854

23

PLUS

Best estimate liabilities for fees purposes (BEL)

Band Width (£ million of BEL)

Fee (£/£m or part £m of BEL)

>1

0.744

23

A.5

Band Width (£ million of Active Capacity (AC))

Fee (£/£m or part £m of AC)

>50

0.003

A.6

Flat levy

0.003

A.7

For class 1(c),(2), (3) and (4) firms:

Band Width (£ million of Funds under Management (FuM))

Fee (£/£m of part £m of FuM)

>10

0.1054

23

For class 1(B) firms: the fee calculated as for class 1(C) firms above, less 15%.

For class 1(A) firms: the fee calculated as for class 1(C) firms above, less 50%.

Class 1(A), (B) and (C) firms are defined in FEES 4 Annex 1AR.

A.9

Band Width (£ million of Gross Income (GI))

Fee (£/£m of part £m of GI)

>1

80.644

23

A.10

Band Width (no. of traders)

Fee (£/trader)

>1

149.024

23

A.13

For class (2) firms

Band Width (£ thousands of annual income (AI))

Fee (£/£ thousand or part £ thousand of AI)

>100

0.05154

23

For a professional firm in A.13 the fee is calculated as above less 10%.

A.14

Band Width (£ thousands of annual income (AI))

Fee (£/£ thousand or part £ thousand of AI)

>100

0.0244

23

A.18

Band Width (£ thousands of Annual Income (AI))

Fee ((£/£ thousand or part £ thousand of AI)

>100

0.1774

23

A.19

Band Width (£ thousands of Annual Income (AI))

Fee (£/£ thousand or part £ thousand of AI)

>100

0.02894

23

A.21

Band Width (£ client money) (CM) held

Fee (£/£ millions or part £m of CM)

less than £1 million

1.6024

23

an amount equal to or greater than £1 million but less than or equal to £1 billion

1.2024

23

more than £1 billion

0.8014

23

PLUS

Safe custody assets

Band Width (£ safe custody assets) (CA) held

Fee (£/£ millions or part £m of CA)

less than £10 million

0.00694

23

an amount equal to or greater than £10 million and less than or equal to £100 billion

0.00524

23

more than £100 billion

0.00354

23

G.3

Minimum fee (£)

102

£ thousands or part £ thousand of Relevant Income

Fee (£/£thousand or part £ thousand of Relevant Income)

>100

0.02304

23

G.4

Flat fee (£)

102

G.10

Minimum fee (£)

102

£ million or part £m of average outstanding electronic money (AOEM)

Fee (£/£m or part £m of AOEM)

>5.0

2.624

23

G.11

Flat fee (£)

102

CC.1

Minimum fee (£)

102

£ thousand of annual income (AI

Fee (£/£ thousand or part £ thousand of AI)

>250

0.06914

23

CC.2

Minimum fee (£)

102

£ thousands of annual income (AI)

Fee (£/£ thousand or part £ thousand of AI

>250

0.06914

23

Notes

(1) The definitions of fee-blocks G5 and G10 under Part 2 and Part 2A of FEES 4 Annex 11R are modified, for the purposes of FEES 7A so that they exclude the Bank of England, government departments, local authorities, municipal banks and the National Savings Bank.

(2) The definitions of those fee-blocks are further amended to exclude EEA firms and those which hold a Part 4A permission.

2Part 2

(1)

This part sets out the minimum SFGB money advice levy applicable to the firms specified in (3) below.

(2)

The minimum SFGB money advice levy payable by any firm referred to in (3) is £10.

(3)

A firm is referred to in this paragraph if it falls within the following activity groups: A.1; A.2; A.3 (excluding UK ISPVs); A.4; A.5; A.7; A.9; A.10; A.12; A.13; A.14; A.18; A.19; G.3 and G.10.