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Limited Permission Credit Broking Authorisation Help

How to Apply for FCA Approval

Limited Permission Consumer Credit Authorisation

Alumni Compliance specialises in supporting businesses applying for FCA limited permission consumer credit authorisation, including firms that need credit broking permissions as a secondary activity. We help non-financial services businesses understand what is required, identify the correct permissions, and prepare an application that clearly evidences governance, systems and controls, and compliance readiness in line with FCA expectations.

Our consultants are former FCA employees and provide tailored, practical support to car dealers as well as businesses such as vets, clinics, jewellery stores, and home improvement companies – if your business wants to offer finance options to your customers by introducing customers to lenders, then we are able to help you obtain your FCA licence.

We guide you from initial scoping through to submission and FCA follow-up questions, so you can progress your limited permission application with confidence.

Why Limited Permission Consumer Credit Authorisation Matters

Once you have completed your FCA Connect application, you must pay the FCA authorisation application fee before you can submit. For limited permission consumer credit authorisation, the fee falls into FCA pricing category 2 which is currently £550 (VAT out of scope) and is paid online directly to the FCA. The FCA fee is non-refundable. If you withdraw your application or the FCA refuses it, the fee will not be repaid—so it is important to submit a complete, accurate, and well-evidenced application pack

How to Apply for a Consumer Credit Licence

Navigating FCA limited permission consumer credit authorisation can feel complex — especially for non-financial services businesses that need secondary credit broking permissions. Alumni Compliance provides a clear, step-by-step guide to the consumer credit authorisation process for firms such as motor dealers, veterinary practices, dentists, and jewellery retailers, helping you understand the requirements, identify the right permissions, and prepare an application that aligns with FCA expectations.

What FCA Permissions Do I need?

Before you start an FCA application, you need to confirm whether your activities require limited permission or full permission under the FCA consumer credit regime. Many firms may fall within limited permission where credit broking is only a secondary activity to their main business. The FCA provides guidance online to help firms understand the consumer credit permissions framework and how it applies to different business models. In practice, the FCA’s contact channels can explain the rules and process, but they will not tell you what you “should” do for your specific circumstances. That is why many firms seek specialist support. Alumni Compliance is a team of former FCA employees who can help you assess your business model, map the appropriate consumer credit permissions (limited or full), and prepare a clear, well-evidenced application aligned to FCA expectations

Document Preparation for Authorisation Application

The FCA will expect a well-evidenced application pack that explains how your business operates and demonstrates that you can meet ongoing regulatory requirements from day one. For limited permission consumer credit authorisation, this typically includes a detailed business plan (often referred to as a Regulatory Business Plan (RBP)), covering: the nature and scale of your activities, customer journey, financial information and forecasts (supported by relevant accounts/financial statements), key risks and mitigations, governance arrangements, and your systems and controls—including core compliance documentation such as a Compliance Monitoring Programme (CMP). The aim is to show the FCA that you are ready, willing and organised to be authorised and regulated.

In addition to the firm’s application, you must also address Senior Managers and accountability. A limited permission firm will usually need to appoint an individual to hold SMF29 (Limited Scope Function) as the person responsible for regulatory oversight. This requires submission of the relevant FCA application form (Form A) and a Statement of Responsibilities, setting out what the SMF29 is accountable for.

For the proposed SMF29 candidate, the FCA will expect robust background information and supporting evidence, which commonly includes a 10-year employment history (as part of the form), appropriate references (including regulatory references where applicable), a Basic DBS (criminal record) check, and a current CV. The FCA uses this information to assess whether the candidate is fit and proper, focusing on: honesty, integrity and reputation; competence and capability; and financial soundness.

It is important to be open and accurate in your disclosures. If the FCA identifies material information that was omitted or presented inaccurately, it can undermine credibility and may lead to delays or refusal. If there are sensitivities in your background and you want support on how to present matters clearly and appropriately, contact Alumni Compliance for a confidential scoping discussion.

Form A and related SMCR materials can be found in the FCA Handbook.

FCA Connect Registration

To submit an FCA authorisation application, you must register for FCA Connect as a new user for a firm that is not currently authorised. The FCA requires authorisation applications to be completed and submitted via Connect — paper applications (or applications submitted by email) are not accepted. Connect allows you to complete the application online, save your progress as you go, and return to it at your own pace before submitting.

FCA Limited Permission Consumer Credit Authorisation Fee

After you complete your FCA limited permission consumer credit authorisation application in FCA Connect, you must pay the FCA application fee before you can submit. The fee is paid directly to the FCA online (typically by debit or credit card) and is non-refundable, even if you withdraw your application or the FCA refuses it. Because the FCA authorisation fee is not refunded, it’s important to submit a complete, accurate, and well-evidenced application pack the first time — covering your business model, governance, and systems and controls, and ensuring all required supporting documents (such as the Basic DBS for relevant individuals) are uploaded correctly. This helps reduce the risk of avoidable delays, rework, or refusal and protects your business from losing the FCA fe

Post-Submission of your application

After you submit your FCA limited permission consumer credit authorisation application in FCA Connect, the FCA will assign a case officer to assess your submission. The FCA typically asks follow-up questions and may request further documents or clarification, so your overall application timeline depends heavily on how complete and well-evidenced your pack is, and how quickly you respond.

The FCA states that, for FSMA firms, it will usually assess a complete application within 6 months. If an application is not complete, it can take up to 12 months. The most reliable way to keep timescales under control is to submit a clear, fully documented application (business model, governance, systems and controls) and respond promptly to case officer queries.

If you do not engage with information requests or the FCA identifies material concerns, the FCA may invite you to withdraw and reapply once issues are addressed, or progress the application toward refusal. A withdrawal or refusal means the FCA will not refund the application fee. By contrast, if the FCA rejects a submission without assessing it because the minimum information has not been provided, the FCA says it will refund the application fee.

After Your Business is Authorised

FCA Register Entry: Once your firm is successfully authorised, it will appear on the FCA Financial Services Register, confirming your authorisation status and permissions. The Register displays key information including your firm name, Firm Reference Number (FRN), company registration number, business address, contact details, complaints contact, regulated activities, and the approved individual holding the SMF29 (Limited Scope Function) role. Being listed on the FCA Register reassures customers and partners that your firm is authorised by the Financial Conduct Authority and legitimately permitted to carry out activities such as credit broking and other regulated services.

Registering for My FCA: After authorisation, your firm will need to register for My FCA. This allows you to access all the FCA systems such as Connect to manage your regulatory permissions and submit notifications or applications online — for example, to update standing data, change SMF29 details, add or remove permissions, or cancel authorisation. FCA Connect is the main portal for maintaining your firm’s regulatory records and must be kept up to date.

Registering for FCA RegData: Authorised firms are also required to register for FCA RegData, the FCA’s online regulatory reporting system. All authorised firms must submit regulatory returns through RegData — for Limited Permission consumer credit firms, this is usually once per year. Timely submission is crucial: failure to submit on time may result in a £250 administrative late-return fee, and continued non-compliance can lead to cancellation of your FCA authorisation.

Registering for FCA Online Invoicing: Your firm will also need to register for FCA Online Invoicing, which is used to receive and pay annual FCA fees and levies. These charges fund the FCA’s operations and are mandatory for all authorised firms.

Annual FCA Fees: The Financial Conduct Authority is funded entirely by the firms it regulates. Each authorised business must pay annual fees based on its level of regulated income. You can use the FCA fee calculator on the FCA’s website to estimate your specific charges. It is important to pay FCA fees on time. Failure to do so can result in interest charges, debt recovery action, and in serious cases, cancellation of FCA authorisation.

Consumer Credit Guidance

More information on FCA consumer credit (credit broking) authorisation—including the limited permission application route for non-financial businesses like motor dealers, dentists and veterinary practices – is available on the FCA’s website.

Why Choose Us?

Alumni Compliance helps SMEs obtain FCA limited permission consumer credit authorisation with a clear, end-to-end service. We handle the regulatory, risk and compliance work so you can focus on running your business. Where needed, we liaise with your accountant to complete the FCA’s financial information requirements, including the Financial Analysis Template, and to assess your firm’s prudential requirements under the FCA’s CONC framework (as applicable to your permissions and activities).

We assess your business model and customer journey, map the correct consumer credit permissions (including credit broking), and review the documentation the FCA expects to see – governance, key individuals, systems and controls, policies and procedures, and key risks with mitigations. The result is a high-quality, fully evidenced FCA application pack designed to reduce delays and follow-up queries and help you progress efficiently through the FCA’s authorisation process.

FCA Consumer Credit FAQs