2009/10 levy details

2009/10 initial levy announced in April 2009 - £156m

Under the funding arrangements set up by the Financial Services Authority (FSA), five new funding classes were established to replace the previous 12 contribution groups. They are:

  • deposits
  • general insurance
  • life and pensions
  • investments
  • home finance

With the exception of deposits, these five broad classes are divided into sub-classes based on provider/intermediation activities. The levy for each of these sub-classes for 2009/10 is in the table below.

2009/10 Initial Levy by Sub-Class
Sub-Class £m
A1 Deposit 22.5
B1 General insurance - provision 69.0
B2 General insurance - intermediation 8.5
C1 Life and pensions - provision 2.0
C2 Life and pensions - intermediation 19.0
D1 Investments - fund management 4.0
D2 Investments - intermediation* 30.0
E1 Home finance - provision 0.0
E2 Home finance - intermediation 1.0
Total funding requirement 156.0

* FSCS will only levy firms in the class for £30m now. If necessary a further levy currently estimated at £28m will be levied later in 2009 (all separate from the interim 2008/09 levy of £38m)