Why use valuable capital to pay FCA fees upfront when firms can pay in instalments?

Authored by Premium Credit

With FCA-regulated firms continuing to receive invoices for this year’s FCA fees and levies, Premium Credit is offering businesses a finance facility to spread the cost over convenient monthly repayments rather than having to pay in one lump sum.

This alternative payment method is designed to give firms greater control over cash flow, allowing their cash reserves to work more effectively in other business-critical areas.

Nigel Stewart (pictured), Sales Director – Professions – Premium Credit, Specialist Lending, comments: “With a Labour government elected and the promise of economic reform, FCA-regulated businesses are on standby for new legislation. This creates uncertainty amongst firms and the need to preserve cash flow to cover all eventualities. As payment deadlines for mandatory FCA fees draw closer for many, Premium Credit’s option to spread the cost is an obvious consideration to help free up cash reserves.”

Mr Stewart adds: “We have been enabling regulated firms to pay their FCA fees as a monthly expense rather than a lump sum payment for over 15 years. The service remains popular. Last year we helped more than 1,600 companies to pay the cost in instalments.”

A simple digital application process, following significant investment in technology, ensures the whole customer journey is smooth and seamless. As the lender, Premium Credit undertakes the bulk of administration by paying the fees directly to FCA.

Premium Credit advises that it’s important to act in a timely way, so firms have the opportunity to consider the best fee payment option and avoid a financial penalty for any late response.

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