The Financial Services Compensation Scheme levy for advisers will be £33m during 2012/13.

However, the FSCS has admitted that the investment intermediaries sector may face a further interim levy of £40m by the end of March.

This interim levy will cover the cost of claims payable for the failure of firms such as Wills and Co and Keydata until the next levy becomes available in July.

The details of the levy were published in the FSCS report of its Plan and Budget 2012/13.

It is not yet known how much compensation will be needed to cover American firm MF Global which collapsed in November 2011.

The limit payable by advisers is £100m so if payments for MF Global are more than this, a cross-subsidy fund could be necessary, most likely affecting fund managers.

The total annual levy for the FSCS will be £221m, up from £217m for 2011/12.

FSCS chief executive Mark Neale said: “Our accountability to our stakeholders and our commitment to keep costs to a minimum remains a key priority for is. A major focus for us in the coming year will be to pursue recoveries from major failures in order to reduce the costs on the industry.”

The FSCS’ aims for 2012/13 are to ensure systems are able to make electronic payments to large numbers of claimants, raise awareness of FSCS protection and improve efficiency by streamlining processes.