UK Bank Levy
A tax payable by large banks and building societies in the UK, based on their total liabilities, both short and long term.
The rate reduced annually for the period 2016 to 2021.
The rate on short term liabilities in 2016 was 0.18% per annum, falling progressively to 0.10% by 2021.
The rates on longer term liabilities are half the rates on short term liabilities.