The Financial Services Compensation Scheme (FSCS) has said it no longer expects to raise an interim levy on investment advisers for the 2013/14 period.
The move follows a review of the number of claims coming in to the service and the timing of compensation payments, the FSCS said.
In November the FSCS had said that the advice community was likely to be billed a £30m interim levy early this year, mainly covering the cost of the Catalyst Investment group failure, which was declared in default in October.
At that time the FSCS said it faced a shortfall of £29.5m on investment intermediation, a deficit largely caused by compensation payments due to clients of Catalyst, which were sold bonds worth more than £50m backed by the collapsed ARM Asset Backed Securities life settlements fund.
However, the FSCS has now said that since then it has updated its assumptions about which claims it will process in this financial year, and the next.
It now expects to start processing claims against Catalyst slightly later than previously thought, with most of these costs likely to fall into 2014/15.
As a result, investment advisers may still have to foot the £30m bill for Catalyst but not until next year.
FSCS chief executive Mark Neale said: "New information on the volume and timing of claims suggests we do not need to levy the industry for more money during 2013/14. That is good news for firms.
"We still expect claims relating to Catalyst Investment Group Limited during next year. So, we will update the industry when we have more information on what this change means for 2014/15 when we announce the levy in April."
For more on the FSCS, CLICK HERE.
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