FEES 7D.2 The TPR DA levy

1A firm must pay the TPR DA levy applicable to it:

1. (1)

   in full and without deduction by 1 August (or, if later, within 30 days of the date of the invoice) in the financial year to which the sum relates; and

2. (2)

   in accordance with the rules in this chapter.

1The TPR DA levy is calculated as follows:

1. (1)

   identify each of the activity groups set out in Part 1 of FEES 7D Annex 1R that apply to the business of the firm for the relevant period (for this purpose, the activity groups under FEES 7D Annex 1R are defined in that Annex or in accordance with Part 1 of FEES 4 Annex 1AR);

2. (2)

   calculate, for each of those activity groups identified in (1), the amount payable in the way set out in FEES 7D.2.3R; and

3. (3)

   add each of the amounts calculated under (2).

1The amount payable by a firm with respect to a particular activity group is calculated as follows:

1. (1)

   calculate the size of the firm’s tariff base for that activity group using:

   1. (a)

      the tariff base calculations in Part 2 of FEES 7D Annex 1R (including only business undertaken from a branch in the UK); and

   2. (b)

      the valuation date requirements in Part 3 of FEES 7D Annex 1R;

2. (2)

   the amount payable in (1) is the amount payable by the firm with respect to that activity group.

1For the purposes of FEES 7D.2.3R:

1. (1)

   a firm may apply the relevant tariff bases and rates to its non-UK business, as well as to its UK business, if:

   1. (a)

      it has reasonable grounds for believing that the costs of identifying its UK business separately from its non-UK business in the way described in Part 2 of FEES 7D Annex 1R are disproportionate to the difference in fees payable; and

   2. (b)

      it notifies the FCA in writing at the same time as it provides the information concerned under FEES 7D.2.3R(1), or, if earlier, at the time it pays the TPR DA levy applicable to it.

2. (2)

   for a firm which has not complied with FEES 4A.2.6R for this period, the TPR DA levy is calculated using (where relevant) the valuation or valuations of business applicable to the previous period, multiplied by the factor of 1.10.

1The TPR DA levy under FEES 7D relates to the whole of any fee year and is due for payment from the commencement of the fee year. Any payment made under FEES 7D.2.1R is not refundable.