FSCS interim levy Q&A

Here, the FSCS goes through some of the key questions advisers might have about the levies and its impact on the industry. What is the interim levy? The FSCS operates on a 'pay-as-you-go' basis, and raises levies to cover the projected annual costs of the Scheme (both operational costs and the costs of compensation payments). It normally undertakes a levy process once every financial year, although further compulsory levies against the relevant sub-class (up to the threshold limit) can be raised if costs are forecast to exceed those initially anticipated. This interim levy arise...