New FCA webpage on reporting consumer credit income

The FCA has published a new webpage setting out what consumer credit firms need to report in relation to their consumer credit income. The FCA charges consumer credit firms annual fees based on the data in forms CCR002 or CCR007.

The webpage outlines what firms need to report to ensure that they are charged the correct annual fee by the FCA, and includes the following information:

  • sets out common scenarios for the different types of consumer credit firms (including credit broking, lending, consumer hire as owner);
  • sets out what firms should not include;
  • identifies what to report if firms have made a decision not to waive or discount charges; and
  • explains when firms can provide a “nil” return.