The levies in respect of those listed below show an increase of 8%, compared to last year.
The same dates used in the past will apply – payment is due by the end of October. Some of the important dates concerning levies are:
- FSPs with representatives need to ensure that their Rep Register is updated and accurate as at 31August 2013, as this is the information on which their levies are calculated. The FSB indicated that it will take legal action against FSPs who reduce their representative numbers to reduce the levies payable.
- The levy on funds under management applicable to categories II, IIA and III is calculated as at 30 June.
- If you are contemplating cancelling your licence, you need to do this before 31 August 2013, or you will be held liable for the full levy.
My colleague, Paull Lawrence, will update his very popular “Levy Calculator” in time for our next newsletter on Monday. Please click here to download Board Notice 121 of 2013.