# The Bank Levy (Double Taxation Relief) (Single Resolution Fund Levy) Regulations 2016, Regulation 6: Calculation of the maximum credit: relevant foreign bank


The amount of the credit must not exceed the amount determined by steps 1 to 4.
Step 1
Determine the amount (“A”) of assets of the relevant entity as at the end of the chargeable period by reference to which the SRF levy is calculated.
Step 2
Determine the amount (“B”) of UK assets as at the end of the chargeable period by reference to which the SRF levy is calculated.
Step 3
Determine the amount (“C”) of the SRF levy paid in relation to the chargeable period.
If a proportion (Z%) of the period in relation to which the SRF levy is calculated falls in any other chargeable period, Z% of the SRF levy is attributable to that other period.
Step 4
The amount of the SRF levy available as a credit against the bank levy must not exceed—
.
B A ×C

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Source: https://www.legislation.gov.uk/ukdsi/2016/9780111151358/regulation/6 (the official version)
Page: https://openlegislation.uk/draft-bank-levy-double-taxation-relief-single-resolution-fund-levy-regulations-2016/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.