Content Options

View Options

Status: You are viewing the version of the handbook as on 2018-07-02.

FEES 7A Annex 1 SFGB money advice levy for the period from 1 April 2018 to 31 March 2019

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

0.0565

A.2

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

Fee (£/mortgage)

>50

0.0217

A.3

Gross written premium for fees purposes (GWP

Band Width (£ million of GWP)

Fee (£/£m or part £m of GWP)

>0.5

1.142

PLUS

Best estimate liabilities for fees purposes (BEL)

Band Width (£ million of BEL)

Fee (£/£m of part £m of BEL)

>1

0.0626

A.4

Gross written premium for fees purposes (GWP)

Band Width (£ million of GWP)

Fee (£/£m or part £m of GWP)

>1

0.748

PLUS

Best estimate liabilities for fees purposes (BEL)

Band Width (£ million of BEL)

Fee (£/£m or part £m of BEL)

>1

0.0235

A.5

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

Fee (£/£m or part £m of AC)

>50

0.0000

A.6

Flat levy

0.0000

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

0.0059

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

3.376

A.10

Band Width (no. of traders)

Fee (£/trader)

>1

5.418

A.13

For class (2) firms

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

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

>100

0.0027

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

0.0012

A.18

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

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

>100

0.0077

A.19

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

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

>100

0.0014

A.21

Band Width (£ client money) (CM) held

Fee (£/£ millions or part £m of CM)

less than £1 million

0.08

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

0.06

more than £1 billion

0.04

PLUS

Safe custody assets

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

Fee (£/£ millions or part £m of CA)

less than £10 million

0.00029

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

0.00022

more than £100 billion

0.00015

G.3

Minimum fee (£)

0

£ thousands or part £ thousand of Relevant Income

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

>100

0.0012

G.4

Flat fee (£)

0

G.10

Minimum fee (£)

0

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

Fee (£/£m or part £m of AOEM)

>5.0

0.3000

G.11

Flat fee (£)

0

CC.1

Minimum fee (£)

0

£ thousand of annual income (AI

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

>250

0.0046

CC.2

Minimum fee (£)

0

£ thousands of annual income (AI)

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

>250

0.0046

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.