Getting authorised is a milestone, not the finish line. Once you hold limited permission, a handful of ongoing obligations keep you compliant. For a firm offering finance as a sideline none of them is onerous — but they're all real, and worth knowing before you apply.
Report to the FCA through RegData
Once authorised, you register on RegData — the FCA's online reporting system — and submit regulatory returns. For limited-permission firms this is usually once a year. The core return is the Key Data report (data item CCR007); if you hold credit broking permission you'll also submit the relevant ancillary credit firm return (CCR009). Miss the deadline and there's a £100 administrative fee, and persistent non-compliance can ultimately cost you your authorisation — so it's worth diarising.
Pay your annual FCA fee
The FCA is funded by the firms it regulates, so you'll pay an annual fee. For a limited-permission firm in the CC1 fee block that is £1,100 for 2026/27, plus about £70 in levies — roughly £1,170 a year. The £1,100 is flat until your consumer-credit income passes £250,000, so unlike most regulatory costs it doesn't scale down for a smaller firm. The FCA's fee year runs April to March, invoices arrive from July through its online invoicing system, and your first year is charged pro rata from the date you're authorised.
You report the consumer-credit income figure yourself, and because "consumer-credit income" is a common area of confusion it's worth getting right — it determines any variable element and it's what the FCA checks. Our FCA fees guide has the full breakdown of the fee and the levies that come with it.
Tell the FCA about material changes
You must notify the FCA of significant changes to your business, using the Connect system. Common examples include a change of control, a change of address, adding or removing an approved person, or applying to change your permissions. If in doubt about whether something is notifiable, it's better to ask than to assume.
Keep following the rules
Holding a permission means ongoing compliance with the Consumer Credit Sourcebook (CONC) and the Consumer Duty — presenting finance fairly, advertising within the financial promotions rules, supporting vulnerable customers, handling complaints properly, and maintaining the senior-management arrangements you set up at authorisation.
Each of these has a guide of its own: the CCR007 annual return and how its deadline is set, the annual attestation and the changes you must notify, what is actually on your FCA annual invoice, and the £100 late return fee — the one cost on this page that is entirely avoidable.
How heavy is this in practice? The admin is light — an annual return, a few notifications if things change, and good ongoing conduct — and the policies in a well-built application pack are designed to make staying compliant straightforward. The cost is the part to plan for: about £1,170 a year, regardless of how much finance you actually arrange. Worth weighing against the commission you expect to earn before you commit.
If you're still at the earlier stages, our step-by-step guide to getting authorised covers the whole journey up to this point.
Frequently asked questions
- How often do limited-permission firms report to the FCA?
Usually once a year, through the FCA's RegData system. The main return is the Key Data report (CCR007), plus the relevant ancillary credit firm return (CCR009) if you hold credit broking permission.
- How much is the annual FCA fee?
It's based on the income from your consumer-credit activities, so it varies by firm. Check the FCA's current consumer credit annual fees for the figures, and make sure you report your income correctly as it determines the fee.
- What happens if I miss a RegData reporting deadline?
A late return attracts a £100 administrative fee (reduced from £250 on 1 April 2026), and persistent failure to report can ultimately lead to the FCA cancelling your authorisation. Diarising the annual return avoids this.
- Do I have to tell the FCA if my business changes?
Yes — you must notify the FCA of material changes such as a change of control, a change of address, adding or removing an approved person, or changing your permissions, using the Connect system.
This article is general information to help you understand the process, and is not legal or regulatory advice. CreditLicence is a regulatory consultancy; it is not authorised or regulated by the Financial Conduct Authority, nothing it provides is regulated advice, and it is not affiliated with, endorsed by, or acting on behalf of the FCA. FCA rules can change; always check the FCA's website for the current position.