Policy paper
Bank Levy: rate reduction
This tax information and impact note sets out the rate at which the Bank Levy will be charged for the next 6 years.
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This measure sets out the rate at which the Bank Levy will be charged for the next 6 years.
The Bank Levy rate will decrease from 0.21% to 0.18% from 1 January 2016 and will continue to decrease each calendar year thereafter until 2021.
A proportionate decrease to 0.09% with effect from 1 January 2016 will be made to the half rate, with corresponding reductions being made each following calendar year until 2021.