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by the following authors: 'Andrea Jeffries'

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Our response to a technical consultation on the Apprenticeship levy

Industry response,
Contact:
andrea jeffries,
Last updated:
09 November 2016

Our main concern with these draft regulations is the "how".  It is not obvious how HMRC requires the payment to be made. Is this with the usual PAYE bill each month?  Further guidance on the detail for payroll/ HR teams would be appreciated. The detail references the allowa...

BSA response to EBA consultation on draft ITS on supervisory reporting on forbearance and non-perfor

Industry response,
Contact:
andrea jeffries,
Last updated:
24 June 2013

Introduction The Building Societies Association represents mutual lenders and deposit takers in the UK including all 46 UK building societies. Mutual lenders and deposit takers have total assets of over £375 billion and, together with their subsidiaries, hold resi...

Changes to the Pension Protection Levy for 2017/18

Industry response,
Contact:
andrea jeffries,
Last updated:
28 October 2016

We are pleased to learn that the PPF is considering introducing a scorecard specifically for the regulated financial services sector for the next triennium.  This is a step in the right direction for building societies, several of which have seen their annual levy bills rise c...

CTF transfers to Junior ISAs

Industry response,
Contact:
andrea jeffries,
Last updated:
05 August 2013

In summer 2013 HM Treasury consulted on allowing savings held in a Child Trust Fund (CTF) to be transferred to a Junior ISA. The BSA welcomes the Treasury’s decision to legislate to allow CTFs to transfer to Junior ISAs. This will give CTF holders the flexibility to ac...

Our response to the PRA consultation on disclosure of encumbrance

Industry response,
Contact:
andrea jeffries,
Last updated:
24 November 2014

We are pleased to submit a brief response to this consultation. We agree with the broad outline of policy underlying the specific proposals, as set out particularly in paragraph 1.10.  As the consultation states, “disclosures enabling market participants  to deduce the...

Draft amendments to FRS 102 - fair value hierarchy disclosures

Industry response,
Contact:
andrea jeffries,
Last updated:
22 January 2016

We support the proposals; they are a good example of proportionality in FRS 102. Click here to read our brief response.

Effective internal audit in the financial services sector

Industry response,
Contact:
andrea jeffries,
Last updated:
16 April 2013

Introduction The Building Societies Association represents mutual lenders and deposit takers in the UK including all 46 UK building societies. Mutual lenders and deposit takers have total assets of over £375 billion and, together with their subsidiaries, hold residen...

Our brief response to joint consultation on FSCS management expenses levy limit 2016/ 17

Industry response,
Contact:
andrea jeffries,
Last updated:
12 February 2016

We welcome the slight reduction in the MELL budget but argue for more detail on "strategic change" expenditure. Click here for the response.

Help to Buy ISA - draft implemetation documents

Industry response,
Contact:
andrea jeffries,
Last updated:
01 July 2015

We are pleased to offer comment on the draft target operating process and operational principles for Help to Buy ISA circulated on 22 June 2015.  Help to Buy ISA should prove a welcome tool to help young home buyers take their first step on the housing ladder.  The product sho...

HMR consultation, "A bank levy banding approach"

Industry response,
Contact:
andrea jeffries,
Last updated:
06 May 2014

Introduction The Building Societies Association represents mutual lenders and deposit takers in the UK including all 45 UK building societies.  Building societies have total assets of nearly £330 billion and, together with their subsidiaries, hold residential mortgag...

Implementing the United Kingdom’s Agreements with the Crown Dependencies and Gibraltar to Improve In

Industry response,
Contact:
andrea jeffries,
Last updated:
13 January 2014

LETTER TO CHARLOTTE HOPWOOD, FATCA POLICY ADVISOR, HMRC 13 January 2014 Dear Charlotte Thank you very much for offering us the opportunity to comment on the draft regulations, and on the draft tax information and impact note.  I should also like to thank yo...

Industry response to HMRC draft CTF to JISA draft guidance

Industry response,
Contact:
andrea jeffries,
Last updated:
20 February 2015

We welcome the flexibility that the ability to transfer from CTFs to JISAs brings. To align with standard practice, an industry working group has produced CTF to JISA transfer guidelines and model forms which are also included in this response. Click below to read ...

Joint letter to HMRC on plans to strengthen code of practice on taxation for banks

Industry response,
Contact:
andrea jeffries,
Last updated:
02 August 2013

The BSA, BBA, Association for Financial Markets in Europe and the Association of Foreign Banks send joint letter to HMRC.  They question whether the code needs "strengthening". Major concerns include: the lack of an independent review process and the level of ...

Our response to proposals on MRELs

Industry response,
Contact:
andrea jeffries,
Last updated:
11 March 2016

Summary The BSA supports the development of an effective regime for bank resolution.  We agree that failing deposit-takers need to be able to be resolved safely, without the taxpayer bailouts or massive calls on FSCS levy payers which were a feature of the banking crisis (a...

Our brief response to the consultation paper, Financial Services Compensation Scheme – Management Ex

Industry response,
Contact:
andrea jeffries,
Last updated:
16 February 2015

Comment We welcome the overall 7.4% reduction in the budgeted FSCS management expenses but continue to be frustrated by the lack of detail about this expenditure, and therefore lack of opportunity to comment on it.   An almost permanent feature of MELL budg...