PRA proposes new fees and levies for 2026/27

The consultation details revised periodic fees for various financial sectors, effective from 1 March 2026 to 28 February 2027.

For deposit acceptors, tariff rates based on modified eligible liabilities show slight decreases across most bands, for example, from £34.975 to £32.363 per million for MELs between £10-140 million.

General insurers will see changes in fees based on gross written premium and best estimate liabilities, with the latter's rate decreasing from £28.32 to £27.62 per million.

Life insurers also face adjusted rates, with fees per million of best estimate liabilities decreasing from £18.88 to £18.51. Firms dealing as principal will experience changes in fees based on total assets and operating income, with the total assets rate decreasing from £2.866 to £2.669 per million.

A new 'Future Banking Data Fee' is introduced, calculated at 0.03093 of a firm's total periodic fees, excluding the minimum periodic fee.

The consultation also outlines updated model maintenance fees and regulatory transaction fees.

Annual model maintenance fees for CRR firms with modified eligible liabilities exceeding £40,000 million will increase, for instance, IMA fees from £70,000 to £72,500. UK Solvency II firms with large best estimate liabilities will also see increases, with group internal model fees rising from £205,000 to £212,500. Regulatory transaction fees for new authorisations are revised, with Type 3 applications increasing from £27,870 to £28,150. Fees for CRR firms seeking permission to apply model types, such as advanced IRB, IMM, or IMA, will also increase across various firm sizes.