FEES 7A Annex 1 SFGB money advice levy for the period from 1 April 2018 to 31 March 2019
Part 1
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 |
||
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. |
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(2) The definitions of those fee-blocks are further amended to exclude EEA firms and those which hold a Part 4A permission. |
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