Finance Act 2011 (c. 11)

SCHEDULES

SCHEDULE 19 U.K. The bank levy

Part 4 U.K. Chargeable equity and liabilities

[F1 Determining the UK-based equity and liabilities of UK resident entities U.K.

Textual Amendments

F1 Sch. 19 paras. 15-15Z5 and cross-headings substituted for Sch. 19 paras. 15-23 (with effect in accordance with Sch. 9 para. 35 of the amending Act) by Finance Act 2018 (c. 3), Sch. 9 para. 2

15H (1) This paragraph applies in relation to a UK resident entity, other than a designated FPE entity, which is— U.K.

(a) where the bank levy is charged as provided for by paragraph 4 (groups), a chargeable UK resident entity;

(b) where the bank levy is charged as provided for by paragraph 5 (entities which are not members of groups), the relevant entity.

(2) To determine the UK-based equity and liabilities of the UK resident entity, as at the end of the chargeable period—

(a) determine the amount of the entity’s equity and liabilities, in accordance with paragraph 15G(2), and

(b) adjust that amount in accordance with paragraph 15N.]