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FSCS rebate for 4,500 firms

Finance

The Financial Services Compensation Scheme has announced that more than 4,500 companies will not pay its levy in 2019/20, with these each instead receiving a rebate, with the average payout at £139. Analysis shows that 46,000 companies across the financial services industry will pay the levy in 2019/20, with 59% expected to pay less than £50 and the 110 largest firms, which account for 0.2% of all contributors, paying more than 60% of the total – at an average of £3m.

 

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