Fee calculator
The fee calculator will enable you to work out your FSA fees, FSCS levy and FOS general levy for different financial periods and scenarios (either the consulted rates or the final rates for that period).
- budget effectively for the forthcoming year's regulatory fees and levies;
- view the regulatory fees and levies for various years and scenarios so you can compare them;
- assess the costs of regulation before applying to be authorised;
- assess the ongoing costs of increasing your activities before applying for a Variation of Permission; and
- assess the impact that a change in business (increase in tariff data) will have on your regulatory fees and levies.
The calculator will make it quick and easy to calculate your regulatory fees and levies. All you need to do is answer a few simple questions about your firm, select your fee block(s), sub-class(es) and industry block(s) and enter the corresponding tariff data. You will then be able to access detailed breakdowns of your costs of regulation and consumer protection.
The calculator has help screens at every step. Move your cursor over the highlighted words and helpful comments will appear. More detailed information is also available by either clicking on the highlighted words or by clicking the help icons on the right-hand side of the page.
Please note: Additional FSCS Levies for 2008/09
NOT YET INVOICED
SA01 (Deposit Class)- Firms taking deposits will be expected to pay back just under £406m to cover the estimated expenses to 31 March 2009 arising from the defaults in relation to a number of deposit takers, Bradford & Bingley, Heritable Bank, Kaupthing Singer & Friedlander, Landsbanki Islands ‘Icesave’ and London Scottish Bank, in 2008. This is lower than the figure of £435m published in the FSCS Plan and Budget and reflects interest rate reductions. The final 2008/09 amounts are expected to be announced and levied in June 2009, to enable the FSCS to pay the loan interest to the Treasury by 1 October 2009.
The fee calculator does not take into consideration any calculations for this levy, The levy is calculated on a firm’s level of protected deposits as at 31 December 2007 and is likely to result in an additional levy of £425 per £1m of protected deposits. For further information please refer to the FSCS Press Release of 30 March 2009.
INVOICED 30 March 2009
SD02 (Investment – Intermediation) - In January 2009 the FSCS declared Pacific Continental Securities (UK) Ltd in default. It is estimated that the likely costs of the default will range between £40m and £70m, however the final costs may fall outside this range. On 30 March 2009 the FSCS announced an interim levy for sub-class SD02 of £38m in respect of 2008/09. The fee calculator does not take into consideration any calculations for this interim levy however it will result in an additional levy of approximately £565 per approved person as at December 2007.
For further information on this matter, please refer to the FSCS press releases 28 January 2009 and the 30 March 2009.
Please note: Additional FSCS Levies for 2009/10
NOT YET INVOICED
SD02 (Investment – Intermediation) – The FSCS announced an indicative levy for this sub-class for 2009/10 of £58m. However the FSCS will initially only levy firms £30m for 2009/10 with a further levy of an estimated £28m possibly later in 2009 when the amount required should be clearer. The increase follows revised assumptions about claims against Pacific Continental Securities Ltd, Square Mile Securities Ltd and other investment broking firms.
Although the initial £30m levy is included in the fee calculator calculations, the further levy of £28m is not. When the required amount and proposed timing of any additional invoicing becomes clearer we will provide an estimate of the additional levy.
Important
While we have made every effort to ensure that the calculations shown are as accurate as possible, the figures produced are illustrative, are based on your inputted information, and should not be relied on as the amount of fees and levies payable.
If you have opted to calculate your fees and levies using indicative rates from our consultations, please note that they should only be used as an indication of your annual fees and levies for the relevant year. The actual fees and levies could change considerably between consultation and the time the final rates are set. Firms should pay the amount as detailed on their actual Regulatory Fees and Levies invoice issued during the year.
The Calculator will calculate most FSA ‘A’ fee blocks, but does not include Basel fees, Mortgage and General Insurance (M&GI) stub fees, Special Project Fees (SPF) and non-‘A’ fee blocks such as Collective Investment Schemes (CIS) or United Kingdom Listing Authority (UKLA) fees.
Availability
The Fee Calculator application is normally available Monday to Sunday from 04.00am to 10.00pm. Occasionally, the application will be unavailable during this time because of essential maintenance.
Minimum computer requirements
You will need:
- Microsoft Internet Explorer version 6.0 or above;
- JavaScript enabled in your web browser; and
- a connection to a printer so you can print out hard copies of the calculation results, should you wish to.
Calculators
So, to access the fee calculator, simply select from the links below the fee year and scenario for which you would like to calculate your fees and levies.
2009/10
2008/09
2007/08
2006/07
2005/06
