Standard licence fees

Fees are payable when you apply for a licence, renew a licence or vary a licence and are charged to cover the administration costs of considering and processing the application.

You do not normally have to pay any fees if you are:

• a debt counsellor and/or a debt adjuster - provided neither you nor an associate charge a fee or commission for any services, whether or not those services relate to consumer credit activities, or
• a registered loan society, friendly society or credit union.

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Fees (including consumer credit jurisdiction (CCJ) levy)

Fees for application for a licence and variations to a licence received on or after 6 April 2008 and for renewals due to expire on or after 5 April 2008 are listed below. For details of fees prior to those dates please contact OFT Enquiries on 08457 22 44 99.

When applying for a licence:

• sole trader - £380 (includes consumer credit licensing fee of £230 and CCJ levy of £150.00)
• partnership, company or other organisation - £725.00 (includes consumer credit licensing fee of £575 and CCJ levy of £150.00).

When renewing a licence:

• sole trader - £380 (includes consumer credit licensing fee of £230 and CCJ levy of £150.00)
• partnership, company or other organisation - £725.00 (includes consumer credit licensing fee of £575 and CCJ levy of £150.00).

Most applicants (including appointed representatives of firms directly authorised by the FSA - see note below) are required to pay the consumer credit jurisdiction industry levy in addition to the licence fee at the same time as you apply to be licensed or you make an application to renew your licence. Your licence application will be delayed if the fee to cover the cost of the levy does not accompany your application.

You do not have to pay the levy if you are:

• a debt counsellor and/or a debt adjuster - provided neither you nor an associate charge a fee or commission for any services , whether or not those services relate to consumer credit activities, or
• a registered loan society, friendly society or credit union, or
• subject to the Compulsory Jurisdiction of the ombudsman scheme - see note.

Note - appointed representatives of firms directly authorised by the FSA are not covered by its Compulsory Jurisdiction for any consumer credit business which they are or become licensed to undertake. Such appointed representatives are subject to the CCJ and are required to pay the CCJ levy (£150) to the OFT.

If your situation is covered by one of the cases above, and you do not have to pay the levy, the fees are as follows:

Applying for a licence:

• sole trader - £230.00
• partnership, company or other organisation - £575.00. 

Renewing a licence:

• sole trader - £230.00
• partnership, company or other organisation - £575.00.

Please note: a licence cannot be renewed by fee alone. An 'Application to renew a Consumer Credit Licence' form must be completed.

If a valid renewal application is received before expiry but a licence cannot be issued before the expiry date, the existing licence remains in force until the renewal licence is issued.

Variations (changes) to your licence applied for at the time of renewal are free of charge.

Download General Notice 73 (pdf 90 kb) for details of fees for application for a licence and variations to a licence received on or after 6 April 2008 and for renewals due to expire on or after 5 April 2008.

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Refunds

A full refund of the licence fee will be given:

• on any overpayment of the required fee
• if an application is made because the OFT gave incorrect information, or
• if an application is withdrawn within two working days of being received by the OFT.

A 50 per cent refund will be given:

• if an application is withdrawn between three and 15 working days of being received by the OFT.

No refund will be given:

• if a licence is refused or is withdrawn after 15 working days of receipt, or if an application expires.

A full refund of the CCJ levy will be given:

• on any overpayment of the required levy
• if an application is made because the OFT gave incorrect information, or
• if an application is withdrawn or refused for any reason
• where no levy is payable but payment has mistakenly been made, or
• where the applicant during the application process becomes subject to the compulsory jurisdiction of the ombudsman scheme before, or on the day, its consumer credit licence is issued.

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Varying a licence

If you wish to change the terms of your licence at any time, other than at the date of renewal, you must apply to vary it.

If you change your legal status (for example, from sole trader to limited company), you will need to apply for a new licence.

Fees for varying a licence

• for the first change (either the name of the licence holder or an addition or deletion of a trading name) - £80.00
• for each subsequent change - £60.00
• for any number of categories, additions or deletions (see subsection 'Categories of consumer credit licence' in application forms) - £80.00

Examples:

• change holder's name and add one trading name (£80+£60) - £140.00
• add three trading names (£80+£60+£60) - £200.00
• add any number of categories (see subsection 'Categories of consumer credit licence' in application forms) (£80) - £80.00

Please note: as a licensee you have a duty to notify the OFT of various changes to your details within specified time periods. Such changes include change of address, officers and matters related to your fitness to hold a licence. No fee is required to notify these changes.

Application forms can be downloaded from the application forms page.

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How to pay

You can pay by credit card if you apply online.

Alternatively, you can pay by cheque, postal order or banker's draft (made payable to Office of Fair Trading). Send your payment, with your completed application to:

Consumer Credit Licensing
PO Box 62691
London
EC4P 4UW

If you need help making an application, telephone the OFT on 020 7211 8608.

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