Outlook May 2024

Here's our latest update for the 2024/25 levy.

This information is accompanied by a message from our Interim Chief Executive, Martyn Beauchamp.

Please see the full Outlook report below. Our next edition will be published in the autumn.

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Levy update headlines

  • The annual levy for 2024/25 is now £265m.
  • We currently expect to pay £363m in compensation to customers during 2024/25.
  • We successfully recovered more than £54m from the estates of failed firms and other relevant third parties during 2023/24.  
  • No retail pool levy is anticipated in 2024/25 as no class is expected to breach its annual levy limit during the year.

Payment on account

All PRA and FCA regulated firms will be sent an annual levy invoice in the summer.

We've already invoiced the largest levy-paying firms £102m in early 2024 as payment on account for the 2024/25 levy. This will be deducted from their annual levy invoice.

Full Outlook report

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Full Outlook report

Download the full Outlook report (pdf 4.8MB).
Westminster, London

Visit the Outlook archive.

Further reading

Martyn Beauchamp, FSCS CEO

Martyn Beauchamp’s statement

Read the article in our News section.
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Podcast - How is FSCS funded?

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