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It is noteworthy that the legislation imposes a charge on an 'entity', rather than the narrower term 'company'. The definition of entity makes it clear that the term includes a partnership¹. Chargeable groups and entities are referred to as 'relevant' groups and entities in the legislation. Although there are legislative changes² which limit the scope of the bank levy to the UK-based equity and liabilities of relevant groups and relevant entities with effect for chargeable periods ending on or after 1 January 2021, the bank levy continues to apply to the same four types of groups and the same three types of standalone entities to which the pre-2021 bank levy rules applied. The difference is that there is single set of core steps that applies to determine the chargeable equity and liabilities of any relevant group or relevant entity, see D7.709A for details.