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Finance Act 2022

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This is the original version (as it was originally enacted).

54Charge to the levy

(1)The levy is charged for a financial year if—

(a)a person carries on a regulated business at any point during the financial year, and

(b)the person’s UK revenue for the financial year is medium, large or very large (see section 55).

(2)The amount charged for a financial year is—

(a)in the case of a person whose UK revenue for the financial year is medium, £10,000;

(b)in the case of a person whose UK revenue for the financial year is large, £36,000;

(c)in the case of a person whose UK revenue for the financial year is very large, £250,000.

(3)The amounts specified in subsection (2) are to be proportionately reduced in the case of a person who carries on a regulated business only for part of the financial year.

(4)No amount of payment made in respect of the levy is to be taken into account in calculating profits or losses for the purposes of income tax or corporation tax.

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