FEES 7A Annex 1 SFGB money advice levy for the period from 1 April 2024 to 31 March 202534

Part 1

R

1This table shows the SFGB money advice levy applicable to each activity group (fee-block).

Activity group

SFGB money advice levy payable

A.1

Band Width (£ million of Modified Eligible Liabilities (MELs))

Fee (£/£m or part £m of MELs)

>10

0.9477

62345

A.2

Band Width (no. of mortgages and/or home finance transactions)

Fee (£/mortgage)

>50

0.5137

62345

A.3

Gross written premium for fees purposes (GWP)

Band Width (£ million of GWP)

Fee (£/£m or part £m of GWP)

>0.5

19.717

623345

PLUS

Best estimate liabilities for fees purposes (BEL)

Band Width (£ million of BEL)

Fee (£/£m of part £m of BEL)

>1

1.107

62345

A.4

Gross written premium for fees purposes (GWP)

Band Width (£ million of GWP)

Fee (£/£m or part £m of GWP)

>1

12.607

62345

PLUS

Best estimate liabilities for fees purposes (BEL)

Band Width (£ million of BEL)

Fee (£/£m or part £m of BEL)

>1

0.8367

62345

A.5

Band Width (£ million of Active Capacity (AC))

Fee (£/£m or part £m of AC)

>50

0.003

A.6

Flat levy

0.003

A.7

For class 1(c),(2), (3) and (4) firms:

Band Width (£ million of Funds under Management (FuM))

Fee (£/£m of part £m of FuM)

>10

0.0867

62345

For class 1(B) firms: the fee calculated as for class 1(C) firms above, less 15%.

For class 1(A) firms: the fee calculated as for class 1(C) firms above, less 50%.

Class 1(A), (B) and (C) firms are defined in FEES 4 Annex 1AR.

A.9

Band Width (£ million of Gross Income (GI))

Fee (£/£m of part £m of GI)

>1

91.627

62345

A.10

Band Width (no. of traders)

Fee (£/trader)

>1

148.197

62345

A.13

For class (2) firms

Band Width (£ thousands of annual income (AI))

Fee (£/£ thousand or part £ thousand of AI)

>100

0.04797

62345

For a professional firm in A.13 the fee is calculated as above less 10%.

A.14

Band Width (£ thousands of annual income (AI))

Fee (£/£ thousand or part £ thousand of AI)

>100

0.02347

62345

A.18

Band Width (£ thousands of Annual Income (AI))

Fee ((£/£ thousand or part £ thousand of AI)

>100

0.1297

62345

A.19

Band Width (£ thousands of Annual Income (AI))

Fee (£/£ thousand or part £ thousand of AI)

>100

0.01877

62345

A.21

Band Width (£ client money) (CM) held

Fee (£/£ millions or part £m of CM)

less than £1 million

1.3127

62345

an amount equal to or greater than £1 million but less than or equal to £1 billion

0.9847

62345

more than £1 billion

0.6567

62345

PLUS

Safe custody assets

Band Width (£ safe custody assets) (CA) held

Fee (£/£ millions or part £m of CA)

less than £10 million

0.00527

62345

an amount equal to or greater than £10 million and less than or equal to £100 billion

0.00397

62345

more than £100 billion

0.00267

62345

G.3

Minimum fee (£)

102

£ thousands or part £ thousand of Relevant Income

Fee (£/£thousand or part £ thousand of Relevant Income)

>100

0.01777

62345

G.4

Flat fee (£)

102

G.10

Minimum fee (£)

102

£ million or part £m of average outstanding electronic money (AOEM)

Fee (£/£m or part £m of AOEM)

>5.0

1.5487

62345

G.11

Flat fee (£)

102

CC.1

Minimum fee (£)

102

£ thousand of annual income (AI)

Fee (£/£ thousand or part £ thousand of AI)

>250

0.08837

62345

CC.2

Minimum fee (£)

102

£ thousands of annual income (AI)

Fee (£/£ thousand or part £ thousand of AI

>250

0.08837

62345

Notes

(1) The definitions of fee-blocks G.5 and G.107 under Part 2 and Part 2A of FEES 4 Annex 11R are modified, for the purposes of FEES 7A so that they exclude the Bank of England, government departments, local authorities, municipal banks and the National Savings Bank.

(2) The definitions of those fee-blocks are further amended to exclude EEA firms and those which hold a Part 4A permission.

2Part 2

(1)

This part sets out the minimum SFGB money advice levy applicable to the firms specified in (3) below.

(2)

The minimum SFGB money advice levy payable by any firm referred to in (3) is £10.

(3)

A firm is referred to in this paragraph if it falls within the following activity groups: A.1; A.2; A.3 (excluding UK ISPVs); A.4; A.5; A.7; A.9; A.10; A.12; A.13; A.14; A.18; A.19; G.3 and G.10.