Plan and Budget 2008-09
Sub-class E2 Home finance - intermediation |
£1m 2008/09 estimated gross initial funding requirement |
Cost drivers |
A share of FSCS management expenses. |
Any credit or debit from previous contribution groups? |
YES - estimated CREDIT (£0.2m), for firms in A18 according to their 2007/08 tariff data.* |
What will firms in this Sub-class pay? |
The net amount to be paid by individual firms is their share of the £1m funding requirement, according to their 2008/09 tariff data, less any credit (if any) in respect of their membership of A18. |
The estimated funding requirement in this Sub-class is £1.0m.
Based on current claims estimates, firms in the previous contribution group A18 will benefit from a fund balance credit of some £0.2m from that contribution group at 31 March 2008.
* Firms will only receive credit or debit notes from previous contribution groups if they were a member of a previous contribution group from 1 April 2007. Details of the transition rules are available from the FSA (PS07/19, FSCS Funding Review - Feedback on CP07/5 and made text).
