FSCS confirms final levy for 2019/20 at £532m

UK money

The Financial Services Compensation Scheme (FSCS) has announced its levy for 2019/20.

FSCS will levy firms £532m this year, £16m more than it forecast in its Plan and Budget 2019/20 in January.

Picking out figures for general insurance distribution, the figure is actually lower than forecast at £12m, down from the £13m predicted in the plan and budget.

According to the body, this includes management expenses of £74.6m.

In 2018/19 the FSCS levy was £468m for the nine-month levy year (from

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