BKLM151000 - Introduction: structure: who is chargeable to the bank levy?
Part 2 of Schedule 19
The bank levy is an annual charge on certain equity and liabilities (termed 바카라 사이트˜chargeable equity and liabilities바카라 사이트™) of banks, building societies, banking groups and building society groups. Chapter 2 of this guidance (see BKLM200000) sets out how those terms are defined for the purposes of the bank levy.
To be within the scope of the bank levy a stand alone bank or building society must be operating in the UK, while a group must contain at least one bank operating in the UK. These UK banking operations can either be:
- carried out through a UK resident entity, referred to in the legislation as a 바카라 사이트˜UK resident bank바카라 사이트™, or
- through a UK permanent establishment (a branch) of a foreign bank, referred to in the legislation as a 바카라 사이트˜relevant foreign bank바카라 사이트™.
Once it has been determined that there is a bank operating within the UK, the next step is to determine whether that bank is a member of a group and the nature of that group.
Part 3 of Schedule 19
Part 3 of Schedule 19 explains in more detail how to determine whether a group is a:
- 바카라 사이트˜UK banking group바카라 사이트™
- 바카라 사이트˜building society group바카라 사이트™
- 바카라 사이트˜foreign banking group바카라 사이트™ or
- 바카라 사이트˜relevant non-banking group바카라 사이트™.
See BKLM221000.
The type of group is important in determining how the calculations of chargeable equity and liabilities should be undertaken. Detailed guidance on how to do this can be found in Chapter 3 of this guidance - see BKLM300000.