FSCS predicts drop in overall levy to £478m for 2023/24

Levy for 2022/23 to remain at forecast £625m

Jenna Brown
clock • 2 min read

The Financial Services Compensation Scheme (FSCS) overall levy for the next financial year is expected to be £478m, the body has said.

In its latest Outlook publication, the FSCS confirmed its total annual levy for 2022/23 would remain at £625m and said for 2023/24 would drop to £478m. "No additional levy is expected for the remainder of the current financial year," it said. The body added: "To help the industry prepare for the year ahead, in this Outlook, FSCS publishes its first look at the levy forecast for 2023/24, which is £478m. This indicative levy is lower than 2022/23, primarily due to surpluses that are expected to be carried over." It explained this included £91m in the ‘Investment Provision' class, mai...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Is financial services regulation really the 'boot on the neck' of business?

Is financial services regulation really the 'boot on the neck' of business?

'For those yet to fully embrace Consumer Duty it is simply wishful thinking'

Andrew Gething
clock 19 September 2025 • 5 min read
FCA considers softer SDR rules for index-tracking funds

FCA considers softer SDR rules for index-tracking funds

Amid ‘challenging’ requirements

Cristian Angeloni
clock 16 September 2025 • 1 min read
FCA: Consumer investment product disclosure system 'not working'

FCA: Consumer investment product disclosure system 'not working'

FCA rules are expected in late 2025

Michael Nelson
clock 11 September 2025 • 2 min read