Policy paper
The Bank Levy (loss absorbing instruments) Regulations 2020
This Tax Information and Impact Note gives detailed specifications for the Bank Levy treatment of loss absorbing instruments issued by overseas subsidiaries of UK resident entities.
Documents
Details
These regulations provide detailed specifications for the Bank Levy treatment of loss absorbing instruments (such as shares and certain convertible debt) issued by overseas subsidiaries of UK resident entities. If these instruments meet certain specified conditions set out in these regulations, then they can be deducted from equity and liabilities otherwise chargeable to the Bank Levy.