The Economic Crime Levy is a levy that applies to businesses that are already regulated for anti-money laundering purposes.

Your business must register if your UK revenue is £10.2 million or more in a financial year and:

The financial year runs from 1 April to 31 March of the following year. Not all entities have to register and submit a return – it depends on the identity of their collection authority.

Businesses only need to register for the Economic Crime Levy once but are required to submit a return and pay the levy on an annual basis.

The amount businesses need to pay depends on their UK revenue for the financial year.

There are four size bands:

Small entities do not need to pay the levy, however:

The amount due for the levy may be reduced if businesses carry out regulated activities for only part of the financial year.

Source:HM Revenue & Customs | 05-05-2024