(12) This sub-paragraph applies to the relevant arrangements so far as their effect
is to increase, on an ongoing basis, the amount of the high quality liquid
assets of the relevant group or the relevant entity.

(13) 10If the relevant group is a foreign banking group or a relevant non-banking
group, in the sub-paragraphs above references to the relevant group are to
be read as references to the members of the group, collectively, which are
relevant members.

(14) In sub-paragraph (13) “relevant member”—

(a) 15has the same meaning as in paragraph 18 or 20 (as the case may be),
and

(b) includes a relevant foreign bank covered by paragraph 17(17) or
19(17) (as the case may be).

47 (1) Section 1139 of CTA 2010 (definition of “tax advantage”) is amended as
20follows.

(2) In subsection (2)—

(a) omit the “or” after paragraph (c), and

(b) after paragraph (d) insert “, or

(e) the avoidance or reduction of a charge or assessment
25to the bank levy under Schedule 19 to FA 2011 (the
bank levy).”

(3) After subsection (3) insert—

“(3A) The avoidance or reduction of a charge or assessment to the bank
levy as a result of arrangements to which paragraph 46 of Schedule
3019 to FA 2011 (bank levy: anti-avoidance) applies is to be ignored for
the purposes of subsection (2)(e) to the extent that it results from
arrangements, or part of arrangements, to which any of paragraph
46(7) to (12) of that Schedule applies.”

Part 6 35Collection and management

Responsibility for collection and management

48 (1) The Commissioners for Her Majesty’s Revenue and Customs are
responsible for the collection and management of the bank levy.

(2) In this Part of this Schedule “HMRC” means Her Majesty’s Revenue and
40Customs.

Payment of the bank levy through the corporation tax system

49 (1) This paragraph applies where the bank levy is charged as provided for by
paragraph 4.

(2) The bank levy is to be treated as if it were an amount of corporation tax
5chargeable on the relevant group’s responsible member (see paragraph 53)
for the accounting period or periods determined in accordance with the
following sub-paragraphs.

(3) Subject to what follows, the accounting period for which the bank levy is to
be treated as if it were an amount of corporation tax chargeable is to be—

(a) 10the responsible member’s accounting period which ends at the same
time as the chargeable period, or

(b) if it does not have an accounting period which ends at that time, its
accounting period during which the chargeable period ends.

(4) If a proportion (“X%”) of the chargeable period falls in any other accounting
15period of the responsible member, X% of the bank levy is to be treated as if
it were an amount of corporation tax chargeable for that other accounting
period.

50 (1) This paragraph applies where the bank levy is charged as provided for by
paragraph 5.

(2) 20The bank levy is to be treated as if it were an amount of corporation tax
chargeable on the relevant entity for the accounting period or periods
determined in accordance with the following sub-paragraphs.

(3) Subject to what follows, the accounting period for which the bank levy is to
be treated as if it were an amount of corporation tax chargeable is to be—

(a) 25the relevant entity’s accounting period which ends at the same time
as the chargeable period, or

(b) if it does not have an accounting period which ends at that time, its
accounting period during which the chargeable period ends.

(4) If a proportion (“X%”) of the chargeable period falls in any other accounting
30period of the relevant entity, X% of the bank levy is to be treated as if it were
an amount of corporation tax chargeable for that other accounting period.

51 (1) Paragraphs 49(2) and 50(2) are to be taken as applying all enactments
applying generally to corporation tax.

(2) This is subject to—

(a) 35any provisions of the Taxes Acts (within the meaning of TMA 1970),

(b) any necessary modifications, and

(c) sub-paragraph (5).

(3) The enactments mentioned in sub-paragraph (1) include—

(a) those relating to returns of information and the supply of accounts,
40statements and reports,

(b) those relating to the assessing, collecting and receiving of
corporation tax,

(c) those conferring or regulating a right of appeal, and

(d) those concerning administration, penalties, interest on unpaid tax
45and priority of tax in cases of insolvency under the law in any part of
the United Kingdom.