2010/11 levy details
2010/11 initial levy announced in March 2010 - £148m
Under the funding arrangements set up by the Financial Services Authority (FSA), five 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 2010/11 is in the table below.
| 2010/11 initial levy by sub-class | |
|---|---|
| Sub-class | £m |
| SA01 Deposit | 4.0 |
| SB01 General insurance - provision | 41.5 |
| SB02 General insurance - intermediation | 61.4 |
| SC01 Life and pensions - provision | 2.0 |
| SC02 Life and pensions - intermediation | 11.5 |
| SD01 Investments - fund management | 3.0 |
| SD02 Investments - intermediation* | 24.0 |
| SE01 Home finance - provision | 0.0 |
| SE02 Home finance - intermediation | 0.6 |
| Total funding requirement | 148.0 |
* FSCS also raised an interim levy on firms in this class for £80m in 2009/10.