News
Check your Economic Crime Levy status
13 September 2023
The Economic Crime Levy (ECL) is payable if your annual turnover exceeds £10.2 million pounds.
From 2023 onwards, you must pay the ECL to HMRC if your UK turnover exceeds the threshold amount in an April to March accounting period. Payment must be received by 30 September of the year in which the accounting period ends.
In summary:
- law firms which are supervised by one of the professional body supervisors and whose turnover does not exceed £10.2m in their preceding accounting period do not need to register and are not liable for the levy
- law firms which are supervised by one of the professional body supervisors only but whose turnover does exceed £10.2m in the preceding accounting period must both register with HMRC and pay the required levy to HMRC
- law firms which are dual regulated by one of the professional body supervisors and the FCA should follow the FCA’s registration and payment process. They should not register with HMRC and will not need to pay a separate levy.