Note 6: Capital charge

Accounting policy

The capital charge is recognised as an expense in the financial year to which the charge relates.

Further information on the capital charge

We pay a capital charge to the Crown on taxpayers’ funds as at 30 June and 31 December each year.

The capital charge rate is determined by the Treasury, and for the year ended 30 June 2023 was 5% (2022: 5%).