FSCS says top 110 firms will pay a £3m levy in 2019/20

money

The Financial Services Compensation Scheme (FSCS) has published indicative numbers illustrating how its levy will be distributed across firms in 2019/20.

According to the organisation, the top 110 firms, comprising 0.2% of the total levy paying population, will pay an average of £3m, which is almost 61% of the total levy bill.

Meanwhile, 59% of the 46,000 firms that will pay FSCS’s levy this year will pay less than £50.

The scheme added that more than 4,500 businesses will not pay any levy at

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