The Bank Levy (Double Taxation Relief) (Single Resolution Fund Levy) Regulations 2016

1Citation, commencement and effect

2Specified equivalent foreign levy

3Application of these Regulations

Double taxation relief by way of credit

4Double taxation relief

5Calculation of the maximum credit: UK banking group, UK sub-group or UK banking sub-group

6Calculation of the maximum credit: relevant foreign bank

7Determining assets and UK assets

8Exchange rates

Claim for double taxation relief

9General time limit for making a claim

10Relevant groups: responsible member to make claim

Limits on credit

11Limits on credit in cases where regulation 6 applies

12Restriction of credit

13(1) Where— (a) there is double taxation in relation to...

14Reduction in credit: payment by reference to SRF levy

15Priority of credits

Action after adjustment of amount payable by way of bank levy or SRF levy

16Consequences of adjustment of the bank levy or SRF levy

17Notice that adjustment has rendered credit excessive

Draft Regulations laid before the House of Commons under paragraph 67(6)(b) of Schedule 19 to the Finance Act 2011, for approval by resolution of that House.

2016 No.

Bank Levy

The Bank Levy (Double Taxation Relief) (Single Resolution Fund Levy) Regulations 2016

Made***

Coming into force in accordance with regulation 1(1)

The Treasury make the following Regulations in exercise of the powers conferred by paragraph 67 of Schedule 19 to the Finance Act 20111.

A draft of this instrument was laid before and approved by a resolution of the House of Commons in accordance with paragraph 67(6)(b) of Schedule 19 to the Finance Act 2011.