There were 1,664 anti-money laundering-related events recorded in the UK between 2013 and 2023, with 27.5% of these directly from money laundering.
The Economic Crime Levy (ECL) was first introduced in 2022 to raise funding for government initiatives designed to tackle economic crime and make the UK a safer place to do business.
In this article, we’ll define what the Economic Crime Levy is and what you need to do.
What is the Economic Crime Levy?
The Economic Crime Levy is an annual fee which applies for sectors that are anti-money laundering regulated and therefore most exposed to economic crime-related risks. The funds raised are intended to help carry out initiatives outlined in the Economic Crime Plan.
Who is Likely to be Affected?
If your business is supervised under the Money Laundering Regulations (MLR) and its annual UK revenue exceeds £10.2 million, you’ll have to pay the Economic Crime Levy.
Sectors likely to be affected include:
- Credit and financial institutions
- Auditors, insolvency practitioners, external accountants and tax advisers
- Independent legal professionals
- Trust or company service providers
- Estate agents and letting agents
- High value dealers, casinos, auction platforms and art market participants
- Cryptoasset exchange providers and custodian wallet providers
How Much Do I need to Pay?
The levy is calculated and charged at entity level; with the amount you’re required to pay determined by your annual UK revenue from the previous financial year.
Use the table below to determine your band and fee amount:
| UK Revenue | Band | ECL Fee |
|---|---|---|
| Up to £10.2m | Small | Exempt |
| £10.2m – £36m | Medium | £10,000 |
| £36m – £1bn | Large | £36,000 |
| Over £1bn | Very large | £500,000 |
Revenue is defined as turnover plus any other amounts which, in accordance with GAAP (Generally Accepted Accounting Practice), are recognised as revenue in the entity’s profit and loss account or income statement.
It’s important to note that the amount you need to pay may be reduced if you carry out regulated activities for only part of the financial year. This is calculated by considering the time you’re supervised for anti-money laundering regulations each day.
What Do I Need to Do to Comply?
The levy is collected by 3 supervisors: HMRC, Financial Conduct Authority (FCA) or the Gambling Commission (GC). The process will depend on which authority supervises your industry, so it’s important to check this first.
Financial Conduct Authority (FCA)
Firms supervised by the FCA under the Money Laundering Regulations (MLRs) need to complete a yearly FIN074 return via their online data collection platform and pay any relevant fees directly to the FCA.
The Gambling Commission (GC)
If you’re a licensed casino operator (including casino host licensees), you’ll need to submit your return and pay any relevant fees to the Gambling Commission.
Deadlines for 2026:
- Returns by 24th May 2026
- Fees by 30th September 2026
You’ll also need to send a copy of your annual accounts, highlighting the UK revenue figure to economiccrimelevy@gamblingcommission.gov.uk.
HMRC (or a Professional Body Supervisor)
If you’re supervised by HMRC or one of the Professional Body Supervisors, you need to register for the Economic Crime Levy, submit a return and pay any relevant fees to HMRC by 30th September each year.
What Next?
If you need more guidance on the Economic Crime Levy, you can read the government’s full manual here. The levy is set to be reviewed by the end of 2027, so expect that there may be changes made to the way the levy is operated.
To ensure that your business isn’t overpaying or underpaying for the Levy, you’ll want to gather information on all your revenue, including turnover and any other amounts.
Keeping up with changing financial regulations can be a handful, especially if your financial reporting relies on manual processes and spreadsheets. If you’d like to see how Sage software could help with navigating regulatory requirements, get in touch.
Last updated: May 2026 – updated in line with the new levy rates introduced on 1st April 2026 and the latest compliance requirements.
