The data we collect from firms identifies trends and emerging risks and helps us to monitor compliance and is also used to calculate the consumer credit-related portion of your annual fees (based on your consumer credit income).
Regulatory reporting is essential and firms not completing their reporting requirements by the due date are subject to an administrative fee of £250.
1. Revenue from credit-related regulated activities
This should only include income derived directly from the credit-related regulated activities for which you have permission. You should exclude all incomes arising out of your main business of selling goods or services. See FAQs for examples of revenue from credit-related activities.
The permissions your firm holds are listed on the Financial Services Register. PERG 2.7 of our Handbook outlines all our regulated activities and provides guidance on what is captured under each permission.
Consumer hire firms: Report only the repayments received within the reporting period stated from the regulated hire agreements. One of the criteria for a regulated consumer hire agreement is that it is 'capable of subsisting for more than 3 months.' Therefore, if the contract is rolling and there is no end date specified, then this may be captured by the definition as the agreement is capable of lasting for more than 3 months.
Also include any associated income resulting from the consumer hire (for example delivery and charges for damages) even if these costs are not specified within the hire contract.
2. Total revenue (including from activities other than credit-related regulated activities)
Total revenue covers all income received by the firm, regardless of whether it’s from credit-related activities or is unrelated to the credit element of your business.
3. Number of transactions involving credit-related regulated activities in reporting period
Review each individual credit-related activity and work out the number of transactions for each.
Consumer hire firms: Count the number of new regulated hire contracts entered into during the reporting period, not the number of old contracts being managed or the payments received.
4. Number of complaints relating to credit-related regulated activities received in period
This question refers to any and all complaints received in relation to credit-related regulated activities only.
5. Credit-related regulated activity which generated the highest amount of turnover in the reporting period
Review the drop down options and select the activity which generated the highest amount of turnover for the firm within the reporting period.
6. Total annual income as defined in Fees 4 Annex 11BR for the purposes of FCA fees reporting
This question is based on the definition of income in our Fees manual within FEES 4 Annex 11B, with guidance at FEES 4 Annex 13 table 2. Read more about how we define consumer credit income and see the FAQs for further information.
We often look for ways to refine our methodology and guidance in the Fees manual. We recommend that you review the information in the links above before submitting your data to ensure you report correctly. As we use this data to calculate your fees, it’s very important you report correctly or you may end up paying too much.
Firms will need to consider 'Fair Value' and the 'Proxy measure of income' as detailed within FEES 4 Annex 11B to see if any additional income needs to be included.