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.
FSA Fees Internal Strategic Review 2009/2010
The FSA has recently carried out a strategic review of our cost allocation and fees model for the ‘A’ fee-blocks which we committed to undertake in our 2009/10 Business Plan. The findings of the review and the proposed outcomes are detailed in our Consultation Paper CP09/26 which was published on 10 November 2009.
In order for firms to calculate what the proposed changes would mean to them we have included a new version of the Fee Calculator which is accessible below called ‘Fee Calculator 2009/10 FSA Strategic Review Rates’. This allows firms to calculate the FSA fees that they would have paid in 2009/2010 incorporating the proposed changes from the strategic review. Firms can then make a comparison between the FSA fees they were actually charged and those they would have been charged under the proposed changes.
New minimum fee structure for Credit Unions – Where a Credit Union is only a deposit acceptor and has Modified Eligible Liabilities of between £0.5m and £2m it will continue to pay the current minimum fee of £540 and not £1,000 as currently stated in the fee calculator for 2009/10. We apologise for any inconvenience this may cause in calculating and comparing your periodic fees.
Please Note that this version of the Fee Calculator does not include any calculations for FSCS or FOS as the Strategic Review was only in respect of the FSA ‘A’ fee-blocks.
Please see the frequently asked questions on the strategic review
Please note: Additional FSCS Levies for 2008/09
INVOICED 29 July 2009
SA01 (Deposit Class) - Firms taking deposits will be expected to pay back £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 amount was announced on 30 March 2009 and levied on 29 July 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 has resulted in an additional levy of £431.43 per £1m of protected deposits. For further information please refer to the FSCS Press Release of 30 March 2009 and the letter sent to trade associations on 28 July 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
INVOICED 13 July 2009
SD01 (Fund Management Sub-class) – Information about the Fees Calculator
Since the levy rate was calculated and entered into the fees calculator there were some significant changes in tariff data for sub-class SD01. This resulted in the total tariff data being much lower than we expected at the time the levy rates were set.
In order to ensure that the correct amount is recovered from this sub-class we have adjusted the levy rate for 2009/2010 taking into account the reduction in the overall tariff data so that the funding for this sub-class can be fully recovered.
Firms who are allocated to sub-class SD01 and have received their 2009/2010 consolidated fee and levy invoice dated before 20 July 2009 should have received an additional invoice to cover the adjustment in the levy rate. Firms whose 2009/2010 invoice was issued after this date will not have received an additional invoice as the levy amount will have been calculated using the revised levy rate.
Currently the fees calculator does not take into consideration any calculations for the adjusted rate however the revised rate resulted in an increase in the levy amount calculated of £123 per £1m of net income.
NOT YET INVOICED
SD02 (Investment – Intermediation) - The FSCS announced an indicative levy for this sub-class for 2009/10 of £58m. However the FSCS initially only levied firms £30m for 2009/10 with a further levy of an estimated £28m due 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 Sabre II development for AII fees (A020), 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
- Fee Calculator 2009/2010 FSA Strategic Review Rates
- Fee calculator 2009/2010 Final Rates
- Fee calculator 2009/2010 Consultation Rates
2008/09
2007/08
2006/07
2005/06
