Category: Bank Levy

Bank Levy

The Government announced a further increase in the bank levy and indicated that this was, in effect, to offset the 2% reduction in corporation tax from next year. In his speech, the Chancellor also made reference to some of the initiatives that will be funded by the projected £2.5 billion  that will be generated annually [...]
Also posted in Budget - March 2011, Olswang Budget Blog | Tagged | Leave a comment

Bank Levy

The Chancellor announced today that the Government will introduce a bank levy with effect from 1 January 2011. Rather than the 10 per cent proposed by the Liberal Democrats in their manifesto, the levy generally will be set at 0.07 per cent. The levy will be calculated by reference to: • the consolidated balance sheet [...]
Also posted in Budget - June 2010 | 2 Comments