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

Compliance relics: The case against PDFs and screenshots

Compliance relics: The case against PDFs and screenshots

'Partial records or flattened archives are no longer sufficient'

David Clee
clock 09 July 2025 • 5 min read
FCA data request prompts SimplyBiz's sector-wide compliance session

FCA data request prompts SimplyBiz's sector-wide compliance session

Nearly 600 advisers sign up for July webinar on navigating new s165 data requirements

Sahar Nazir
clock 09 July 2025 • 2 min read
FCA data information request: Four focus areas for advisers

FCA data information request: Four focus areas for advisers

‘Data is not just a compliance tool it’s a strategic asset’

Chris Davies
clock 07 July 2025 • 5 min read