Getting the FCA's approval is the milestone — but it's the start of being authorised, not the end of the work. Here's what happens once your consumer credit application is granted: appearing on the Register, going live, your ongoing obligations, and the returns that follow.
When the FCA grants your application, you become an authorised firm. That's a genuine achievement — most of the effort is in getting there. But authorisation brings its own continuing responsibilities, and knowing what they are means you start on the front foot rather than scrambling later. Here's the sequence after approval.
You appear on the Financial Services Register
Once authorised, your firm is added to the FCA's public Financial Services Register — the official record of authorised firms, showing your permissions and status. This matters commercially as well as legally: lenders, finance providers and customers can look you up, and many lenders will check the Register before accepting you as an introducer. Being on it is often the green light that lets you formalise arrangements with finance partners.
You can go live — within your permissions
With authorisation granted, you can lawfully carry on the regulated activity you applied for — typically credit broking under limited permission. It's worth being precise here: you can do what your permission covers, and no more. If your authorisation is for limited permission credit broking, that's what you're cleared for; taking on activities beyond your permissions would itself be a breach. Make sure everyone in the business understands the scope of what's been granted.
Your compliance framework goes from paper to practice
The policies you prepared for the application — financial promotions, complaints handling, vulnerable customers, financial crime — now have to be lived, not just filed. That means your finance advertising follows the financial promotions rules, you handle any complaints the way your procedure sets out, and you treat customers in line with the Consumer Duty. The FCA expects the framework you described to be the framework you operate.
Your first regulatory returns
Authorised firms report to the FCA periodically through its RegData system. For limited permission consumer credit firms this includes an annual return capturing information about your regulated activity. There's also a newer return, CCR009, for relevant ancillary credit firms, with its own reporting cycle. The practical point is that these returns have deadlines, and late submission carries a penalty — so it's worth diarising them as soon as you're authorised. Our guide to ongoing obligations for limited permission firms covers the reporting picture in full.
You pay ongoing annual fees
Authorisation isn't a one-off cost. Once authorised, your firm pays the FCA directly each year. For a limited-permission consumer credit firm the periodic fee is currently £1,100, flat until your consumer credit income passes £250,000 — so it doesn't scale down for a smaller firm. On top of that sit three small levies: £55 to the Financial Ombudsman Service, £10 for money guidance and £5 for illegal money lending. That's roughly £1,170 a year, separate from the £560 you paid to apply.
Your first year is charged pro rata, from the date you're authorised to the following 31 March; a full year runs from each April after that. The FCA's own fee calculator will give you the figure for your firm.
Worth knowing too: if a customer complains and takes it to the Financial Ombudsman, the standard case fee is £680, though firms get a £2,000 case-fee allowance each financial year. Our cost guide sets out the full picture.
Figures are for the 2026/27 FCA fee year, set out in FCA policy statement PS26/14. We review them each July when the FCA publishes new rates.
Already authorised and looking for help with the returns rather than the application? Our post-authorisation support page includes a free deadline calendar built from your own dates.
You keep the FCA informed of changes
If significant things change — your business model, the person holding the SMF29 function, your legal structure, or the activities you carry on — you generally need to tell the FCA, and some changes require a formal application to vary your permission or update your details. Authorisation is an ongoing relationship with the regulator, not a certificate you file away.
The bottom line
After approval, the headline is simple: you're authorised, you're on the Register, and you can offer customer finance lawfully — but you now carry continuing obligations to report, to comply, and to keep the FCA informed. None of it is complicated for a well-run limited permission firm, but the annual cost is real money and the deadlines are real deadlines, so both need to be on your radar from day one. Going in with eyes open is what keeps authorisation a straightforward, lasting asset for your business.
Frequently asked questions
- What happens once the FCA approves my application?
Your firm is added to the FCA's public Financial Services Register, you can lawfully carry on the regulated activity you applied for, and your compliance policies move from paper into practice. You also take on ongoing obligations, including periodic regulatory returns and an annual fee.
- When will I appear on the Financial Services Register?
Your firm is added to the Register once authorisation is granted. The Register shows your permissions and status, and lenders and finance providers often check it before accepting you as an introducer, so it frequently enables you to formalise finance partnerships.
- What regulatory returns do I have to file after authorisation?
Limited permission consumer credit firms report to the FCA through RegData, including an annual return about their regulated activity, and there is a newer CCR009 return for relevant ancillary credit firms. These returns have deadlines and late submission carries a penalty, so they should be diarised from the start.
- Is there an ongoing FCA fee after I'm authorised?
Yes, and it is not small. A limited-permission consumer credit firm currently pays the FCA a periodic fee of £1,100 a year, plus about £70 in levies — roughly £1,170 in total, separate from the £560 application fee. The £1,100 is flat until your consumer credit income passes £250,000, so it does not reduce for a smaller firm. Your first year is charged pro rata from authorisation to the following 31 March. (2026/27 fee year, per FCA PS26/14.)
- Do I need to tell the FCA if my business changes?
Generally yes. Significant changes — to your business model, the person holding the SMF29 function, your legal structure or the activities you carry on — usually need to be notified, and some require a formal application to vary your permission. Authorisation is an ongoing relationship with the regulator.
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.