Draft regulations: updating definitions in the Bank Levy legislation

We welcome views on draft regulations that would update various definitions used in the Bank Levy legislation at Schedule 19 to the Finance Act 2011 and The Bank Levy (Loss Absorbing Instruments) Regulations 2020.

The Bank Levy legislation defines certain terms by reference to regulatory laws and rules. The proposed amendments would update some definitions in the Bank Levy legislation to align with regulatory changes. They would also delete some definitions that are no longer required.

The amendments would have effect for chargeable periods beginning on or after 1 January 2027.

Before submitting your response, you can read these publications:

• (Draft) Tax information and impact note: Updating definitions in the Bank Levy legislation
• Draft regulations