Finance Act 2011 (c. 11)

SCHEDULES

SCHEDULE 19 U.K. The bank levy

Part 4 U.K. Chargeable equity and liabilities

[F1 Chargeable equity and liabilities: relevant groups U.K.

Textual Amendments

F1 Sch. 19 paras. 15-15Z5 and cross-headings substituted for Sch. 19 paras. 15-23 (with effect in accordance with Sch. 9 para. 35 of the amending Act) by Finance Act 2018 (c. 3), Sch. 9 para. 2

15 (1) This paragraph applies if the bank levy is charged as provided for by paragraph 4 (groups). U.K.

(2) The amount of the chargeable equity and liabilities of the relevant group is the total of—

(a) the UK-based equity and liabilities, as at the end of the chargeable period, of—

(i) each UK sub-group, and

(ii) each chargeable UK resident entity, and

(b) if a relevant foreign bank is a member of the relevant group, the UK allocated equity and liabilities of that bank as at the end of the chargeable period (see paragraph 24).]