FAQs on the interim levy 2012/13
The FSCS operates on a ‘pay-as-you-go’ basis, and raises levies to cover the projected annual costs of the Scheme (both operational costs and the costs of compensation payments). It normally undertakes a levy process once every year, although further interim levies against the relevant sub-class (up to the threshold limit) can be raised if costs are forecast to exceed those initially anticipated.
This interim levy arises from revisions to our earlier estimates of the compensation we are expecting to pay out before the next annual levy cycle and the management expenses for the 2012/13 financial year.