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  • Bank Levy: quantification notices

Bank Levy: quantification notices

The regulations which deal with the collection and management of the Bank Levy (The Corporation Tax (Instalment Payments) (Amendment) Regulations 2011 (SI 2011/1785) have been made and will come into force on 11 August 2011. Regulation 15 inserts a new Regulation 10A into the Corporation Tax (Instalment Payments) Regulations 1998 which requires that the entity responsible for the payment of the Bank Levy must provide a quantification notice to an officer of HM Revenue and Customs (HMRC) on or before the date on which the payment is made.

View The Corporation Tax (Instalment Payments) (Amendment) Regulations 2011 (SI 2011/1785) (Opens new window)

Quantification notices should be sent to the Customer Relationship Manager (CRM) for the relevant entity or group and should specify the following details:

  • the amount of the Bank Levy payment being made
  • the accounting period to which the payment relates
  • confirmation of the Unique Taxpayer Reference (UTR) number under which the payment is being made (in the case of a relevant group the UTR will be for either the Group Payment Arrangement or the nominated responsible member - where there is no Group Payment Arrangement)
  • the expected date of payment

Any queries should be directed to either the relevant HMRC CRM or alternatively comments can be sent to Malcolm White or Anthony Fawcett.