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Finance Act 2012

Rates 2012

5.Paragraph 1 introduces amendments to the bank levy legislation.

6.Paragraph 2 increases the bank levy rates from 1 January 2012.

7.Paragraph 3 replaces the rates for a chargeable period that falls partly before 1 January 2012. It increases the rates due on the proportion of chargeable short term liabilities and on the proportion of chargeable equity and chargeable long term liabilities for the part of the chargeable period that falls after 1 January 2012.

8.Paragraph 4 provides that the rate changes made by paragraphs 2 and 3 are treated as having come into force on 1 January 2012.

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