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6. The amount of the credit must not exceed the amount determined by steps 1 to 4.
Step 1
Determine the amount (“A”) of assets of the relevant entity as at the end of the chargeable period by reference to which the SRF levy is calculated.
Step 2
Determine the amount (“B”) of UK assets as at the end of the chargeable period by reference to which the SRF levy is calculated.
Step 3
Determine the amount (“C”) of the SRF levy paid in relation to the chargeable period.
If a proportion (Z%) of the period in relation to which the SRF levy is calculated falls in any other chargeable period, Z% of the SRF levy is attributable to that other period.
Step 4
The amount of the SRF levy available as a credit against the bank levy must not exceed—
.
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