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).