# The Fossil Fuel Levy Regulations 1990, Paragraph 5: Method of calculating amount of any payment in respect of levy


In the formula in paragraph 3 the correction factor Ky shall be the amount of money, whether positive or negative, given by the following formula–
Ky=[Dy-1'-Dy-1")-Ry-1100×(Xy-1'-Xy-1")+ry-1-Ry-1100×Xy-1')]×[1+Iy-1100]+[(Dy-2-Dy-2")-Ry-2100×(Xy-2-Xy-2")]×[1+Iy-2100]×[1+Iy-1100] where–
Iy−1 is the arithmetic average of the LIBOR rates on the last day of each of the first six months in period y − 1; and
Iy−2 is the arithmetic average of the LIBOR rates on the last day of each of the first six months in period y − 2.

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Source: https://www.legislation.gov.uk/uksi/1990/266/schedule/2/paragraph/5 (the official version)
Page: https://openlegislation.uk/fossil-fuel-levy-regulations-1990/schedule-2/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.