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 as set out in Table 1 below:

Table 1

 

Minimum Levy plus Variable Levy

Moneylenders

Minimum Levy

Variable Levy

G

Moneylenders

€1,905

Variable Levy (V) is calculated as follows:

(A - B) x C

Where:

A = firms’ 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 1.169%.

Firms may calculate their own levy liability by inserted relevant details in the calculator below:

Click here to read more on the annual levying process.