Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Bank charges: Levy rates to increase in 2011

Chancellor George Osborne has announced that the rate of the bank levy to be charged in 2011 is to be increased this year.

This will increase the revenue from the levy in 2011 by £800m to £2.5 billion. From March 1st the rate of the levy will be 0.1 per cent for two months to offset the lower rate of 0.05 per cent that was charged in January and February.

According to the Bank of England's Financial Stability Report, which was released on December 17th, the near-term outlook and resilience of the UK banking sector has improved.

Prior to this, the government had announced that a reduced rate of 0.05 per cent would apply in 2011 because of the uncertain market conditions. However, the government no longer considers this necessary.

The increase in the rate of the levy will mean that it raises £2.5 billion over the course of this year, which is the same target revenue for future years.

Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt.

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide