110 businesses to pay three-fifths of FSCS levy in 2019/20

Illustrating how its levy would be distributed across businesses in the 2019/20 financial year, the Financial Services Compensation Scheme (FSCS) said the top 110 firms, which make up 0.2% of the total levy paying population, will pay an average of £3m - nearly 61% of the total levy bill. In contrast, three-fifths (59%) of levy payers will pay less than £50 while more than 4,500 firms will not pay any levy, receive an average rebate of £139 each instead. While these are the current forecasts for its 2019/20 levy figures, the FSCS warned, as in past years, it may be necessary for the body...