Source: https://www.handbook.fca.org.uk/handbook/FEES/7A/3.html?date=2018-12-09
Timestamp: 2020-02-26 14:22:29
Document Index: 297472053

Matched Legal Cases: ['art 1', 'art 1', 'art 1', 'art 1', 'art 2', 'art 3', 'art 2', 'art 3', 'art 3', 'art 2', 'art 5', 'art 3', 'art 3', 'art 1', 'art 4', 'art 1', 'art 4', 'art 3', 'art 1', 'art 3', 'art 7', 'art 1', 'art 1', 'art 1', 'art 2', 'art 5']

FEES 7A.3 The SFGB money advice levy and debt advice levy - FCA Handbook
FEES 7A.3 The SFGB money advice levy and debt advi...
Obligation to pay money advice levy or debt advice levy
FEES 7A.3.1R 02/07/2018
1A firm must pay the SFGB money advice levy or SFGB debt advice levy applicable to it:
in accordance with the provisions of FEES 4.3.6R as modified by FEES 7A.3.2R.
FEES 7A.3.2R 02/07/2018
1For the purposes of FEES 7A.3.1R(2), FEES 4.3.6R(1C) to (1E) is modified so that if a firm’s periodic fee for the previous financial year were at least £50,000, the firm must pay:
an amount equal to 50% of the SFGB money advice or SFGB debt advice levy payable for the previous year, by 1 April in the financial year to which the sum due under FEES 7A.3.1R relates; and
the balance of the SFGB money advice levy or SFGB debt advice levy due for the current financial year by 1 September in the financial year to which that sum relates.
For the purposes of FEES 7A.3.1R(2), FEES 4.3.6R(2) is modified so that if the firm’s periodic fee for the previous financial year was less than £50,000, the firm must pay its SFGB money advice levy or SFGB debt advice levy in full by 1 July in the financial year to which that sum relates.
Calculation of the money advice levy and debt advice levy
FEES 7A.3.3R 02/07/2018
1The SFGB money advice levy and SFGB debt advice levy are each calculated as follows:
identify each of the activity groups set out in Part 1 of FEES 7A Annex 1R and Part 1 of FEES 7A Annex 2R that apply to the business of the firm for the relevant period (for this purpose, the activity groups under FEES 7A Annex 1R are defined in accordance with Part 1 of FEES 4 Annex 1AR and the activity groups under FEES 7A Annex 2R are defined in accordance with Part 1 of that Annex);
calculate, for each of those activity groups identified in (1), the amount payable in the way set out in FEES 7A.3.4R;
add each of the amounts calculated under (2);
work out whether a minimum fee is payable under Part 2 of FEES 7A Annex 1R and if so how much;
modify the result as indicated by (if applicable) FEES 4.2.7ER, FEES 4.2.7FR, FEES 4.2.7GR, FEES 4.2.7HR, FEES 4.2.7IR, FEES 4.2.7JG and FEES 4.2.7KR;
apply any applicable payment charge specified in FEES 4.2.4R to the amount in (6), provided that:
make the calculations using information obtained in accordance with FEES 4.4 in the case of FEES 7A Annex 1R and Part 3 of FEES 7A Annex 2R in the case of Part 2 of that Annex.
FEES 7A.3.4R 02/07/2018
1The amount payable by a firm with respect to a particular activity group is calculated as follows:
calculate the size of the firm’s tariff base for that activity group using:
the tariff base calculations in Part 3 of FEES 4 Annex 1AR, Part 3 of FEES 4 Annex 11 and Part 2 of FEES 7A Annex 2R; and
the valuation date requirements in Part 5 of FEES 4 Annex 1AR, Part 3 of FEES 4 Annex 11R and Part 3 of FEES 7A Annex 2;
use the figure in (1) to calculate which of the bands set out in the table in Part 1 of FEES 7A Annex 1R and Part 4 of FEES 7A Annex 2R the firm falls into;
add together the fixed sums, as set out in the table in Part 1 of FEES 7A Annex 1R and Part 4 of FEES 7A Annex 2R, applicable to each band identified under (2);
FEES 7A.3.5R 02/07/2018
1For the purposes of FEES 7A.3.4R:
it has reasonable grounds for believing that the costs of identifying the firm’s UK business separately from its non-UK business in the way described in Part 3 of FEES 4 Annex 1AR and Part 1 of FEES 4 Annex 11R are disproportionate to the difference in fees payable; and
for a firm which has not complied with FEES 4.4.2R (information on which fees are calculated) or FEES 4.4.8D (Information relating to payment services and the issuance of electronic money) for this period, the SFGB money advice levy and SFGB debt advice levy is calculated using (where relevant) the valuation or valuations of business applicable to the previous period, multiplied by the factor of 1.10.
FEES 7A.3.6R 02/07/2018
1The modifications in Part 3 of FEES 4 Annex 2AR and Part 7 of FEES 4 Annex 11R apply.
FEES 7A.3.7R 02/07/2018
1The SFGB money advice levy in relation to the Society is specified against its activity group in Part 1 of FEES 7A Annex 1R.
FEES 4 rules incorporated into FEES 7A by cross-reference
FEES 7A.3.8G 02/07/2018
1The FCA Handbook provisions relating to the SFGB money advice levy and SFGB debt advice levy are meant to follow closely the provisions relating to the payment of periodic fees under FEES 4.3.1R. For brevity, not all of these provisions are set out again in FEES 7A. In some cases, certain FEES 4 rules are applied to the payment of the SFGB money advice levy and SFGB debt advice levy by individual rules in FEES 7A. The rest are set out in the table in FEES 7A.3.10R.
FEES 7A.3.9R 02/07/2018
1The rules set out in the table in FEES 7A.3.10R and any other rules in FEES 4 included in FEES 7A by cross-reference apply to the SFGB money advice levy and SFGB debt advice levy in the same way as they apply to periodic fees payable under FEES 4.3.1R.
FEES 7A.3.10R 02/07/2018
1Table of rules in FEES 4 that also apply to FEES 7A to the extent that in FEES 4 they apply to fees payable to the FCA
FEES 4 rules incorporated into FEES 7A
FEES 7A.3.11D 02/07/2018
1FEES 4.4.7D to FEES 4.4.9D (Information relating to payment services and the issuance of electronic money) also apply to FEES 7A.
FEES 7A.3.12R 02/07/2018
1References in a FEES 4 rule incorporated into FEES 7A by cross-reference to a periodic fee should be read as being to the SFGB money advice levy and SFGB debt advice levy. References in a FEES 4 rule incorporated into FEES 7A to market operators, service companies, MTF operators, investment exchanges, or designated professional bodies should be disregarded.
FEES 7A.3.13G 02/07/2018
1In some cases, a FEES 4 rule incorporated into FEES 7A in the manner set out in FEES 7A.3.8G will refer to another rule in FEES 4 that has not been individually incorporated into FEES 7A. Such a reference should be read as being to the corresponding provision in FEES 7A. The main examples are set out in FEES 7A.3.14G.
FEES 7A.3.14G 02/07/2018
1Table of FEES 4 rules that correspond to FEES 7A rules
Corresponding FEES 7A rules
FEES 7A.3.1R
FEES 7A.3.3R
FEES 7A.3.6R
Part 1 of FEES 4 Annex 2AR
Part 1 of FEES 7A Annex 1R
Part 2 of FEES 4 Annex 11R
Part 5 of FEES 4 Annex 11R