Funding Category C – Intermediaries
Authorised intermediaries are liable to pay a variable levy based upon self-declared annual income and are required to submit a
Self Declaration of Income to the Financial Regulator every year.
Category C firms who are authorised for the first time must submit a Self Declaration of Income to the Financial Regulator for the period from the date of authorisation to 31 December of the year of authorisation.
Should an intermediary fail to submit a Self Declaration of Income, or should the declaration prove to be incorrect or should, for whatever reason, the Financial Regulator be prevented from properly assessing the levy amount, the intermediary may be assessed under Category L (Default Assessment) and required to pay a flat rate levy.
An intermediary registered under the Insurance Mediation Directive who is solely engaged in such business is liable only for the minimum rate for Category C regardless of the level of income generated from this business.
How to calculate your levy
The levy payable by an intermediary is based on the total income generated from the regulated activities it undertakes. The total income figure will determine which income band the intermediary will fall into and, consequently, the levy payable.
For an example of how the current funding year's levy for financial service providers in the C category was calculated please see the
C calculation template.
Read more on the annual levying process.