The Economic Crime Levy is a levy that applies to businesses that are already regulated for anti-money laundering purposes.
Your business must register if your UK revenue is £10.2 million or more in a financial year and:
The financial year runs from 1 April to 31 March of the following year. Not all entities have to register and submit a return - it depends on the identity of their collection authority.
Businesses only need to register for the Economic Crime Levy once but are required to submit a return and pay the levy on an annual basis.
The amount businesses need to pay depends on their UK revenue for the financial year.
There are four size bands:
Small entities do not need to pay the levy, however:
The amount due for the levy may be reduced if businesses carry out regulated activities for only part of the financial year.
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