BKLM154700 - Introduction: structure: steps for determining the amount of the bank levy: step 7
Paragraph 6(2) of Schedule 19
The final computation of the bank levy is calculated by applying the bank levy rate to the chargeable equity and liabilities taken from Step 5 or Step 6.
Step 7 applies the current rate of the bank levy. This is modified by paragraph 7 of Schedule 19, so that the relevant rate is applied to the liabilities for the relevant chargeable period. See BKLM154800. The relevant rates for the different periods are:
| Rate Period | Rate for chargeable equity and long term liabilities | Rate for short term chargeable liabilities |
|---|---|---|
| 1 January 2011 - 28 February 2011 | 0.025% | 0.05% |
| 1 March 2011 - 30 April 2011 | 0.05% | 0.1% |
| 1 May 2011 - 31 December 2011 | 0.0375% | 0.075% |
| 1 January 2012 - 31 December 2012 | 0.044% | 0.088% |
| 1 January 2013 to 31 December 2013 | 0.065% | 0.130% |
| 1 January 2014 to 31 March 2015 | 0.078% | 0.156% |
| 1 April 2015 to 31 December 2015 | 0.105% | 0.21% |
| 1 January 2016 to 31 December 2016 | 0.09% | 0.18% |
| 1 January 2017 to 31 December 2017 | 0.085% | 0.17% |
| 1 January 2018 to 31 December 2018 | 0.08% | 0.16% |
| 1 January 2019 to 31 December 2019 | 0.075% | 0.15% |
| 1 January 2020 to 31 December 2020 | 0.07% | 0.14% |
| Any time on or after 1 January 2021 | 0.05% | 0.10% |