Industry Funding Levy Information for Moneylenders 

Category G - Moneylenders

In 2018, the Central Bank published CP117 “New Methodology to Calculate Funding Levies payable by Moneylenders” in which it proposed a new levy methodology for moneylenders.  This revised calculation methodology which was implemented in 2018 means that moneylenders will be charged a levy comprising a flat element plus a variable element, set as a percentage of reported turnover from regulated activity that exceeds a threshold. These flat and variable elements will be determined annually. 

Levy Calculation

The levy for moneylenders will be calculated according to the following formula:

Minimum Levy: €1,818 plus

Variable Levy calculated as follows:
                                                             (A-B) x C
Where:

A = total of firm's 'Turnover' reported to the Central Bank in section 6.2 of the most recently received Renewal Application for the entity;
B = threshold level of total 'Turnover' of €60,000;
C = variable levy rate of 1.118%.

Click here to read more on the annual levying process.