BoE Guidance

Key dates

In or around July 2026

- The Bank of England emails invoices for the Bank of England Levy to Levy Payers, setting out the levy amount payable for the 2026/27 Levy Year

Levy Year 2026/27 (1 April 2026 – 31 March 2027, by inference from BoE and FCA levy year conventions)

- Period to which the Bank of England Levy Requirement and the Notification Document relate

Suggested considerations

• Confirm internally which group entities are Levy Payers for the 2026/27 Bank of England Levy and reconcile this against the scope set out in the Bank of England Levy Framework Document and related BoE fee regime policy statements.
• Review the Bank of England Levy Notification Document for 2026/27 alongside the 2024 Levy Framework Document and prior-year notices to understand how the bank’s individual assessment may change relative to 2025/26.
• Ensure that Recognised Contact and Invoice Contact details submitted to the Bank are up to date, consistent with Statistical Notice 2026/03 requirements, so that levy invoices and operational communications are received and actioned promptly.
• Set up or confirm internal approval, purchase order and payment processes to ensure invoices for the Bank of England Levy 2026/27 are validated, coded and paid in accordance with the Bank’s payment terms and internal delegation of authority.
• Update regulatory cost forecasts, budgets and FTP (funds transfer pricing) or product pricing models to reflect the 2026/27 levy quantum and any change in allocation across entities or business lines.

What changed

• - The Bank of England has released the annual Notification Document for the 2026/27 Bank of England Levy, confirming the anticipated levy requirement for the current levy year under paragraph 1.16 of...
• For 2026/27, the Bank of England Levy is set at £700 million, reflecting both funding of the Bank’s policy functions and the transition away from the legacy Cash Ratio Deposits (CRD) scheme, with a...
• Within this £700 million total, the Bank is recovering £343 million as net Levy from industry, separate from operational policy costs of approximately £357 million, with £307 million specifically...
• The Levy sits within the Bank’s overall fee and levy regime which is constrained such that the Bank’s operating budget and core levies may increase by no more than consumer price inflation in...
• The Notification Document underlines that invoices for individual Levy Payers will follow, consistent with the Framework and associated terms and conditions, and that levy payers will be billed by...

Key dates

31 July 2026

- Updated Form PL definitions are scheduled to be published by the Bank of England

Q1 2027

- First reference period for which the updated Form PL definitions are effective

May 2027 Deadline

- Submission deadline for Q1 2027 Form PL reporting using the revised definitions and tax treatment

Suggested considerations

• Review the updated Form PL definitions in full once they are published on 31 July 2026 to understand all changes to income, expenditure and tax classification.
• Map the revised Form PL tax definition (PL16 / PL.01.01.01 C0010 R1600) to internal chart of accounts and tax reporting structures, ensuring correct identification of taxes on production and related charges.
• Update internal regulatory reporting systems, data transformation rules and validation checks to reflect the new Form PL definitions ahead of the Q1 2027 reporting period.
• Revise internal reporting policies, procedures and documentation for Form PL to incorporate the updated tax treatment and any other definitional changes.
• Train finance, regulatory reporting and data teams on the revised Form PL guidance, with particular focus on the redefined tax items and their distinction from other tax and fee categories.

What changed

• - The Bank of England will update the Form PL definitions to improve consistency and alignment with the ONS UK National Accounts requirements, specifically for income and expenditure reporting.
• The definition and reporting guidance for tax (PL16 / PL.01.01.01 C0010 R1600) are being revised to clarify the treatment of items classified as taxes on production and related charges.
• The updated definitions will apply to all Form PL line items, with particular emphasis on ensuring more precise classification of tax-related items within profit and loss reporting.
• The Bank of England does not anticipate major changes in reported figures but expects improved clarity and consistency in how firms map internal accounting data to Form PL categories.
• The updated definitions will replace the current Form PL guidance and become the operative standard for all reporting institutions from the Q1 2027 reporting period.

Key dates

Mid‑June 2026 Deadline

– First LIVE submissions using Statistics Taxonomy v1.3.1 become due, covering **end‑May 2026** data; firms must use v1.3.1 for these returns and v1.3.0 instance documents will no longer be valid for submission

02 June 2026 – 12 June 2026

– BEEDS User Acceptance Testing (UAT) window for firms and software houses to test submissions using Statistics Taxonomy v1.3.1 in a non‑production environment, running in parallel with live reporting for some firms and returns

Suggested considerations

• Update internal reporting systems, data integration layers and XBRL engines so that all relevant BoE statistical returns are generated using Statistics Taxonomy v1.3.1 for end‑May 2026 reporting onwards.
• Review and update all XBRL instance document templates and configuration to ensure they reference the correct v1.3.1 entry points and filing indicators (XX.XX.XX format, e.g. FI.01.01).
• Decommission or phase out any dependency on the BoE Statistical Utility tool, and implement an alternative XBRL generation solution (recognised software provider or internal tooling) capable of producing valid v1.3.1 files.
• Conduct a detailed review of the BoE‑published change log, taxonomy package, sample files and XBRL filing manual to understand validation changes, DPM updates and implementation nuances that could cause submission failures.
• Schedule and complete end‑to‑end testing in the BEEDS UAT environment (where available) and in internal test environments to validate that v1.3.1 submissions pass all technical and business validations.

What changed

• - Bank of England Statistics Taxonomy v1.3.1 replaces v1.3.0 for statistical reporting under the BoE Statistics Taxonomy framework.
• The new taxonomy applies to LIVE submissions of end‑May data due from mid‑June 2026, meaning firms must generate those returns using v1.3.1.
• Reporting requirements and published definition documents remain unchanged, with the update limited to technical implementation changes (validation fixes, data point model changes and related...
• Taxonomy v1.3.1 is not backwards compatible with v1.3.0, so XBRL instance documents created under v1.3.0 will not be valid for submission once v1.3.1 is in force.
• Filing indicators are standardised across statistics reporting and now follow the format XX.XX.XX (for example, FI.01.01), requiring alignment of internal mapping and validation rules.

Key dates

End May 2026

– Reference date of the first LIVE reporting period to which Bank of England Statistics Taxonomy v1.3.1 applies (end‑May 2026 data)

25 May 2026

– Last date for software houses to email the BEEDS queries mailbox to request access to the BEEDS UAT environment for this specific UAT window

Mid June 2026 Deadline

– Due date window for LIVE submissions of end‑May 2026 statistical data under Taxonomy v1.3.1 via BEEDS LIVE

02 June 2026

– Opening of BEEDS UAT environment for the June testing window under Taxonomy v1.3.1 FINAL

12 June 2026

– Closing of BEEDS UAT environment for the June testing window

Suggested considerations

• Identify all Bank of England statistical returns in scope of Taxonomy v1.3.1 and confirm that internal reporting calendars and responsibilities reflect the end‑May 2026 effective period and mid‑June 2026 submission deadlines.
• Ensure that all in‑scope statistical reporting firms’ BEEDS LIVE user and firm information are accurate and up to date, so that automatic mirroring into the BEEDS UAT environment creates correct and controlled user profiles.
• Instruct software houses and third‑party vendors supporting Bank of England statistical reporting to request BEEDS UAT access by emailing the BEEDS queries mailbox no later than 25 May 2026 if they intend to participate in this UAT window.
• Coordinate with internal IT and vendors to schedule, prepare, and execute test submissions in BEEDS UAT between 02 June and 12 June 2026, covering all relevant entry points and reporting scenarios under Taxonomy v1.3.1.
• Implement or validate an alternative XBRL generation solution to replace the withdrawn Bank of England Statistical Utility Tool, and complete end‑to‑end testing (source data to BEEDS receipt) ahead of the mid‑June 2026 live submission deadline.

What changed

• - The Bank of England has opened a BEEDS UAT environment specifically for testing statistical submissions under Statistical Taxonomy v1.3.1 FINAL, distinct from the BEEDS LIVE production environment.
• A dedicated UAT window is set from 02 June to 12 June 2026, during which the UAT environment will run in parallel with live reporting for some firms and returns.
• Statistical reporting firms are automatically enabled for BEEDS UAT using their existing BEEDS LIVE firm and user information and do not need to request UAT access.
• Software houses that wish to use this UAT window must request access by emailing the BEEDS queries mailbox by a stated cut‑off date (25 May 2026).
• All principal and additional user details for firms will be mirrored from the BEEDS LIVE environment into BEEDS UAT, with UAT‑specific temporary passwords issued from the designated BEEDS UAT email...

Key dates

Ongoing Deadline

- Firms must maintain resolution packs and MREL compliance; bail-in firms have at least **6 years** (plus up to 2-year extension) to meet end-state MREL, and **minimum 18 months** for additional resolvability requirements

Advance notification Deadline

- Modified insolvency firms forecasting £25bn assets or transactional account thresholds within 3 years must inform BoE/PRA

Suggested considerations

• Assess resolvability: Major firms perform and disclose self-assessments under RAF; address identified barriers or face BoE powers to mandate fixes.
• Enhance capabilities: Implement MREL, operational continuity in resolution (OCIR), and Single Customer View for deposits; prepare for recapitalisation or non-transferable interests in bail-in.
• Cross-border coordination: US-exposed firms leverage SEC No-Action Letter for bail-in planning; engage BoE on international strategies.[BoE News Release](https://www.bankofengland.co.uk/news/2026/april/boe-enhances-resolution-readiness-with-updated-operational-guides)
• Monitor thresholds: Notify BoE/PRA if approaching £25bn assets or account thresholds.

What changed

• - New Operational Guide to Transfer Resolution: Details BoE's execution of transfers to private sector purchasers or temporary bridge banks, including recapitalisation payments and use of resolution...
• Updates to Operational Guide to Bail-in Resolution: Introduces an alternate approach where affected creditors receive non-transferable contingent beneficial interests (simplifying bail-in by...
• US SEC No-Action Letter: Confirms non-transferable contingent beneficial interests for US investors need no SEC registration, aiding cross-border bail-in operability.[BoE News...

Key dates

20 March 2026 Deadline

- Software houses must email BEEDSqueries@bankofengland.co.uk to request UAT access

30 March 2026

- BEEDS UAT environment opens for testing Statistical Taxonomy v1.3.1 FINAL

17 April 2026

- BEEDS UAT environment closes (final window before live submissions)

End

May 2026; - Reference period for first live submissions post-UAT

Mid Deadline

June 2026; - Due date for live submissions covering end-May 2026 data

Suggested considerations

• Statistical reporting firms: Monitor email for temporary UAT password from beedsuat_donotreply@bankofengland.co.uk; log in using existing LIVE firm/user details (no access request needed); submit valid test files across entry points during window.
• Software houses: Email BEEDSqueries@bankofengland.co.uk by 20 March 2026 for access; submit valid, non-nil files for every statistical entry point (include Form IP if possible); await BoE validation and recognition list update.
• All parties: Ensure submissions contain valid data only; avoid nil returns; seek Press Office approval for any BoE name use in promotions.
• Review full details on BoE Statistical Reporting page for recognised software house list.

What changed

• - Introduction of BEEDS UAT environment specifically for testing Statistical Taxonomy v1.3.1 FINAL, described as the last UAT before live end-May 2026 submissions.
• Requirement for software houses to submit valid files for every statistical entry point (no nil returns accepted) to qualify as recognised; Form IP submissions strongly encouraged though not...
• Automatic access for statistical reporting firms using existing LIVE credentials; software houses must request access by email.
• Post-UAT validation by BoE, with potential loading of test files for verification, and email notifications on review outcomes.
• Reminder that BoE name usage in marketing requires prior Press Office approval. No prior taxonomy version explicitly compared, but this builds on prior UAT cycles (e.g., 2025 Notice proposed two...

Key dates

31 January 2027 Deadline

- Deadline for submission of Eligible Liabilities Return form for Levy Year 2026/27 (inferred as standard end-January deadline post-levy year-end, aligned with historical BoE notices; confirm via Yellow Folder for exact day)

Suggested considerations

• Review and calculate eligible liabilities as of 31 December 2026 using BoE definitions from the Yellow Folder.
• Submit completed ELR form electronically via BoE portal by the specified deadline (likely 31 January 2027).
• Retain audit trails, supporting data, and reconciliations for potential PRA/BoE queries.
• Update internal systems and controls for levy calculation; notify compliance teams if data gaps exist.
• Monitor BoE portal for form updates or extensions.

What changed

The notice updates definitions and guidance in the Banking Statistics Yellow Folder, focusing on the deadline for submitting the Eligible Liabilities Return (ELR) form for the 2026/27 levy year. It does not introduce new substantive rules but reinforces procedural requirements for accurate levy base calculations, such as eligible liabilities as defined in section 15 of the Financial Services (Banking Reform) Act 2013. No specific changes to levy rates or methodologies are detailed, but it aligns with ongoing updates to banking statistics reporting.

Key dates

Provisional UAT windows (two proposed)

- User Acceptance Testing periods for validating the new taxonomy 1.3.1; exact dates to be confirmed via BoE updates

Suggested considerations

• Review and update reporting systems to support XBRL 3.0, incorporating validation fixes and DPM changes.
• Participate in the two proposed UAT windows to test submissions under the new taxonomy.
• Subscribe to or amend BoE Statistical Notices circulation list to receive updates.
• Cross-reference against the Banking Statistics Yellow Folder for any definitional impacts on ongoing returns.

What changed

• - Upgrade of the reporting taxonomy from XBRL 2.3.0 to XBRL 3.0, introducing technical enhancements for improved data structure and interoperability.
• Validation fixes to address errors in data submission processes.
• Changes to the data point model (DPM), refining how specific data elements are defined and reported.
• These updates align with ongoing refinements to the Banking Statistics Yellow Folder, which contains core definitions for BoE statistical returns.

Key dates

19 December 2025, 5:00 PM GMT Deadline

– Deadline for completing confidentiality preference survey in BEEDS portal

January–December 2026

– Reporting reference periods covered by granted permissions

Ongoing

– Consent remains valid for these periods unless explicitly withdrawn; applies to resubmissions and late submissions for 2026 reference periods

Suggested considerations

• *Log into the BEEDS portal and access the confidentiality permission survey
• *Select one of four consent options (blanket, form-by-form, selective, or case-by-case)
• *For multi-entity groups: Complete a separate survey for each individual entity
• *Review prepopulated firm information and make adjustments as needed
• *Submit final preferences via the portal (latest submission version is treated as final)

What changed

The notice introduces a streamlined confidentiality permission framework with four consent options for reporting institutions: 1. Blanket consent – Give prior approval for all statistical forms 2. Form-by-form consent – Approve permissions on individual forms 3. Selective consent – Approve all forms except specified data points 4. Case-by-case opt-out – Require explicit consent for each publication instance The material change is the Bank's shift toward pre-approval for aggregate data publication where firms represent fewer than three contributors to an aggregate figure.