# The Bank Levy (Double Taxation Relief) (Single Resolution Fund Levy) Regulations 2016, Regulation 14: Reduction in credit: payment by reference to SRF levy


(1) Paragraph (2) applies if—
(a) credit against the bank levy is allowed to an entity under these Regulations, and
(b) a payment is made by a tax authority to that entity, or to any other person, by reference to the SRF levy.
(2) The amount of the credit must be recalculated by repeating steps 3 and 4 in regulation 6, reducing the amount of the SRF levy by reference to the payment referred to in paragraph (1)(b).

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Source: https://www.legislation.gov.uk/ukdsi/2016/9780111151358/regulation/14 (the official version)
Page: https://openlegislation.uk/draft-bank-levy-double-taxation-relief-single-resolution-fund-levy-regulations-2016/regulation-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.