Part 4 Chargeable Equity and Liabilities
Finance Act 2011 (2011 c 11) | Legislation

Part 4 Chargeable Equity and Liabilities

Definition of “assetsâ€, “equity†and “liabilitiesâ€

14

(1)     For the purposes of this Schedule, “assetsâ€, “equity†and “liabilities†have the same meaning as they have for the purposes of international accounting standards.

(2)     . . .

[Chargeable equity and liabilities: relevant groups

15

(1)     This paragraph applies if the bank levy is charged as provided for by paragraph 4 (groups).

(2)     The amount of the chargeable equity and liabilities of the relevant group is the total of—

(a)     the UK-based equity and liabilities, as at the end of the chargeable period, of—

(i)     each UK sub-group, and

(ii)     each chargeable UK resident entity, and

(b)     if a relevant foreign bank is a member of the relevant group, the UK allocated equity and liabilities of that bank as at the end of the chargeable period (see paragraph 24).

Chargeable equity and liabilities: relevant entities

15A

(1)     This paragraph applies if the bank levy is charged as provided for by paragraph 5 (entities which are not members of groups).

(2)     The amount of the chargeable equity and liabilities of the relevant entity is—

(a)     in the case of a UK

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