Fees

 

Because of the new Financial Services Compensation Scheme (FSCS) funding model, we have changed the way the fees calculator works to reflect the new sub-class structure for specific and compensation costs.

To help you estimate your FSCS liability for 2008/09, we have published some examples showing the likely combined impact on typical smaller- and medium-sized firms of:

  • the reduced levy for this year; and
  • the effect of the 'clean break' rebate which is described below.

The 'clean break' exercise will apply to all participant firms that were in the contribution groups on 31 March 2008 and have been authorised for more than one year at that date. On 31 March 2008 the FSCS calculated the balances in the existing contribution groups. Where there is a surplus, this will be applied as a credit to firms within that contribution group; similarly, where a contribution group is in deficit a debit will be applied. Each firm’s credit or debit will be calculated on the basis of the tariff data it supplied for the 2007/08 FSCS compensation levy.

The impact of the 'clean break' rebate is shown as the '2007/08 Re-invoice/(Credit)' adjustment in the examples. Please see our Policy Statement PS07/19 and the FSCS Plan and Budget 2008/09 for more details on these arrangements.

You can also find definitions of each new sub-class in the FSCS section of our Fee Tariff Data 2008/09 pages.

Levy examples

To help you find out the likely change in your year-on-year levies, click on your firm type to see the examples:

Please note

These examples are very simple, and should only be used as a guide.

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