Britain raises bank levy

A view of the London City skyline

The UK government on Thursday published final legislation for a bank levy that will see domestic banks charged a higher rate of tax than originally proposed in the June budget.

Amendments to the legislation on the bank levy, which comes into effect in January, will see banks charged 0.05% on liabilities held on its balances sheet in 2011 - compared to the 0.04% figure set out in June. From 2012 onwards, the banks will be charged 0.075% instead of the 0.07% June figure.

The government said the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.