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

A.1

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

Fee (£/£m or part £m of MELs)

>10

0.9477

A.2

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

Fee (£/mortgage)

>50

0.5137

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

PLUS

Best estimate liabilities for fees purposes (BEL)

Band Width (£ million of BEL)

Fee (£/£m of part £m of BEL)

>1

1.107

A.4

Gross written premium for fees purposes (GWP)

Band Width (£ million of GWP)

Fee (£/£m or part £m of GWP)

>1

12.607

PLUS

Best estimate liabilities for fees purposes (BEL)

Band Width (£ million of BEL)

Fee (£/£m or part £m of BEL)

>1

0.8367

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

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

A.10

Band Width (no. of traders)

Fee (£/trader)

>1

148.197

A.13

For class (2) firms

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

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

>100

0.04797

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

A.18

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

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

>100

0.1297

A.19

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

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

>100

0.01877

A.21

Band Width (£ client money) (CM) held

Fee (£/£ millions or part £m of CM)

less than £1 million

1.3127

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

0.9847

more than £1 billion

0.6567

PLUS

Safe custody assets

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

Fee (£/£ millions or part £m of CA)

less than £10 million

0.00527

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

0.00397

more than £100 billion

0.00267

G.3

Minimum fee (£)

102

£ thousands or part £ thousand of Relevant Income

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

>100

0.01777

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

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

CC.2

Minimum fee (£)

102

£ thousands of annual income (AI)

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

>250

0.08837

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.