Business guidance
Rules, requirements and how-tos for running your business — organised by topic, with industry-specific guidance on the sector pages.
Guidance for professional & financial services
Show all guidanceAccess the Lloyd's of London insurance market
Lloyd's of London is a marketplace where syndicates underwrite risks, and each way in needs its own approval. Managing agents need significant capital and PRA and FCA authorisation, while brokers register with Lloyd's and coverholders need a binding authority agreement, all subject to FCA conduct rules.
Professional & Financial ServicesAI compliance for financial services firms
The FCA has no AI-specific rules: it holds regulated firms to account for AI through the Consumer Duty, the Senior Managers and Certification Regime and operational resilience. Name one senior manager accountable for AI, and check that every model affecting retail customers delivers good outcomes.
Professional & Financial ServicesApply for ABS licensing as an alternative business structure
If a non-lawyer will manage, own part of or significantly influence your law firm, it must be licensed as an alternative business structure under Part 5 of the Legal Services Act 2007. Every ABS must appoint a Head of Legal Practice and a Head of Finance and Administration.
Professional & Financial ServicesApply for FCA authorisation for cryptoasset activities
From 25 October 2027, carrying on a regulated cryptoasset activity in the UK needs FCA authorisation, and registration under the Money Laundering Regulations does not carry over. Apply between 30 September 2026 and 28 February 2027 to keep trading while the FCA decides.
Professional & Financial ServicesApply for FCA authorisation under Part 4A FSMA
Before you carry on a regulated activity in the UK, you must have FCA permission under Part 4A of FSMA; trading without it can mean up to two years in prison and an unlimited fine. Scope your permissions, prepare a business plan and apply through FCA Connect.
Professional & Financial ServicesArchitects' and engineers' design duties
Anyone who designs building work must design to the Building Regulations and meet the designer duties in CDM 2015. Only "architect" is a protected title: you cannot use it unless you are personally registered with the Architects Registration Board.
Professional & Financial ServicesCheck if your business needs FCA authorisation
You need FCA authorisation if you carry on a regulated activity, such as consumer credit, insurance distribution or mortgage broking, by way of business in the UK. Doing so without it is a criminal offence, and applications often take six to twelve months.
Professional & Financial ServicesCheck your law firm's professional indemnity insurance before renewal
Your SRA-authorised firm must have replacement professional indemnity insurance in force from the day the current policy ends, with a participating insurer on the Minimum Terms and Conditions. Without it, a 30-day extended policy period is followed by a cessation period in which the firm can only finish existing work.
Professional & Financial ServicesChoose between appointed representative status and FCA authorisation
To carry on regulated activities lawfully, you can get your own FCA authorisation, become an appointed representative of an authorised principal that takes regulatory responsibility for you, or join a network. The choice decides who carries liability, how fast you can launch and what you can offer.
Professional & Financial ServicesClient account reconciliation quick reference
Under the SRA Accounts Rules 2019, you must reconcile your client account at least every 5 weeks, comparing the bank statement, the client ledger balances and the cash book. Investigate any difference promptly, and keep reconciliation statements and working papers for at least 6 years.
Professional & Financial ServicesCOLP and COFA roles and reporting
Every SRA-authorised firm must have an SRA-approved COLP and COFA. The COLP oversees compliance with the SRA's rules and the COFA oversees client money. Both must keep breach records, report serious failures to the SRA promptly and make annual declarations.
Professional & Financial ServicesComply with Buy Now Pay Later regulation
How Buy Now Pay Later and Deferred Payment Credit providers must comply with FCA regulation from 15 July 2026, including authorisation, temporary permissions and the treatment of earlier agreements.
Retail & Consumer GoodsComply with credit advertising rules
Every consumer credit advert must meet FCA rules. If it mentions an interest rate, including 0%, a payment amount, the number of payments or the cost of credit, you must also show the representative APR and other set information. Buy Now Pay Later is covered from 15 July 2026.
Professional & Financial ServicesComply with credit broking rules
If you introduce customers to a lender or offer finance at the point of sale, you are probably a credit broker and need FCA permission; broking without it is a criminal offence. Tell customers which lenders you work with and disclose any fee before you act.
Professional & Financial ServicesComply with debt collection rules
When collecting consumer debts, as the original lender or a third-party collector, you must treat customers in financial difficulty with forbearance and due consideration. Follow CONC 7 at every stage, from arrears contact to default notices and court action.
Professional & Financial ServicesComply with high-cost short-term credit rules
If you offer high-cost short-term credit, the FCA caps what you can charge: 0.8% a day in interest, a £15 default fee and total costs no higher than the amount borrowed. You must also run stricter affordability checks, carry the risk warning in every promotion and allow no more than 2 rollovers.
Professional & Financial ServicesComply with SRA Price Transparency Rules
If your firm offers residential conveyancing, probate, motoring offences, employment tribunal claims, immigration, debt recovery or licensing applications, the SRA Transparency Rules require you to publish prices and service details for them on your website. The rules apply even if you handle such work only occasionally.
Professional & Financial ServicesComply with SRA Standards and Regulations
The SRA Standards and Regulations bind every authorised firm, its managers and employees. The Principles and Codes require effective systems for conflicts, confidentiality, supervision and complaints, an approved COLP and COFA, and prompt reporting of serious breaches. Managers answer for the firm's compliance.
Professional & Financial ServicesComply with the FCA Consumer Duty
The FCA's Consumer Duty requires every authorised firm in the retail distribution chain to act to deliver good outcomes for customers, not just avoid harm. It has applied in full since 31 July 2024, and you must be able to evidence good outcomes, including for vulnerable customers.
Professional & Financial ServicesConduct and document affordability assessments for consumer credit
Before lending to a consumer, assess both their creditworthiness and whether they can afford the repayments without financial difficulty. A good credit score alone is not enough: verify income and spending in proportion to the size and length of the loan.
Professional & Financial ServicesConsequences of carrying on regulated financial business without FCA authorisation
Carrying on a regulated financial activity without FCA authorisation or an exemption is a criminal offence, and your customer agreements become unenforceable against them. The FCA can also fine you and make you return customer money, and your directors can be disqualified.
Professional & Financial ServicesConsumer credit rates and thresholds reference
Section 75 covers single items costing more than £100 and up to £30,000. High-cost short-term credit is capped at 0.8% interest a day, a £15 default fee and total charges of 100% of the amount borrowed.
Professional & Financial ServicesFCA authorisation for insurance brokers
To arrange, advise on or assist with insurance contracts in the UK, you need FCA authorisation as an insurance intermediary, with professional indemnity insurance, or must become an Appointed Representative of an authorised firm.
Professional & Financial ServicesFCA consumer credit authorisation
If you lend to consumers, arrange credit, collect consumer debts or offer buy now pay later, you need FCA authorisation. Operating without it is a criminal offence, and agreements you make may be unenforceable.
Professional & Financial ServicesFintech regulation and FCA authorisation
The UK regulates fintech by what you do, not how you do it: if you issue e-money, provide payment services or handle crypto-assets, you need the same FCA authorisation or registration as a traditional firm. The FCA's Regulatory Sandbox and other programmes can help you test new products.
Professional & Financial ServicesGet authorised as an insurer and meet the prudential rules
Effecting or carrying out contracts of insurance needs Part 4A permission from the Prudential Regulation Authority, with the FCA's consent. Once authorised you must hold capital above Solvency UK minimums, follow with-profits and business-transfer rules if you write life business, and stay within impact tolerances for important business services.
Professional & Financial ServicesGet authorised as a payment institution or e-money institution
If you provide payment services or issue electronic money in the UK by way of business, you must be authorised or registered by the FCA before you start; doing so without status is a criminal offence. Your status sets your capital and safeguarding duties.
Professional & Financial ServicesGet FCA authorisation to carry on a regulated activity
If your firm carries on a regulated activity in the UK by way of business, it must have FCA permission before it starts, unless an exemption applies; doing so without permission is a criminal offence. Identify each regulated activity you need, then show you meet the threshold conditions.
Professional & Financial ServicesGet permission and meet the rules as an investment firm
Executing or arranging deals in investments for clients needs Part 4A permission from the FCA, or appointed representative status. You must then protect client money and assets under CASS, hold capital under the Investment Firms Prudential Regime, achieve best execution and report transactions. Running a trading venue needs separate authorisation.
Professional & Financial ServicesGet SRA authorisation for your law firm
You must have Solicitors Regulation Authority authorisation before running a law firm in England or Wales, and carrying on reserved legal activities through an unauthorised firm is a criminal offence. Choose your entity type, apply through mySRA and appoint compliance officers; allow 3 to 6 months.
Professional & Financial ServicesHandle client complaints at your law firm
Every SRA-regulated law firm must have a written complaints procedure and tell clients about it, including how to reach the Legal Ombudsman. If you have not resolved a complaint within 8 weeks, the client can go straight to the Ombudsman, so appoint a handler who was not involved.
Professional & Financial ServicesHandle consumer credit complaints and the Financial Ombudsman
Consumer credit firms must have written complaints procedures and send a final response within 8 weeks. The response must tell the customer they can refer the complaint to the Financial Ombudsman Service within 6 months.
Professional & Financial ServicesInsurance distribution and loss adjusting rules
If you distribute insurance — broking, advising on or arranging policies — or adjust losses and handle claims, your rules sit on top of the duties every regulated firm shares: the insurance distribution permission and conduct rulebook, demands-and-needs and product information duties, client money protections, professional indemnity cover, and the permissions and professional standards for loss adjusting and claims handling.
Professional & Financial ServicesInsurer conduct and accountability rules
Your senior managers need approval under the Senior Managers and Certification Regime, and retail business must meet the FCA's Consumer Duty. In the home and motor markets, you must not charge renewing customers more than equivalent new customers.
Professional & Financial ServicesManage client money under SRA Accounts Rules
If your SRA-authorised firm holds money for clients or third parties, you must keep it in a separate client account, pay it in promptly, withdraw it only for permitted reasons, reconcile at least every five weeks and obtain an accountant's report within six months of each accounting period.
Construction & PropertyManage payment notices and stage payments on a construction contract
On a construction contract lasting 45 days or more you are entitled to stage payments. The payer must say within 5 days of each due date what it will pay, and can only pay less by serving a notice in time. If you are not paid, you can suspend work after 7 days' notice.
Professional & Financial ServicesMeet FCA threshold conditions for authorisation
A firm seeking FCA authorisation must meet five threshold conditions, and keep meeting them: a UK head office, being capable of effective supervision, appropriate resources, being fit and proper, and a suitable business model. If you fall short, the FCA can vary or cancel your permission.
Professional & Financial ServicesMeet pre-contract disclosure requirements for credit
Before a consumer signs a regulated credit agreement, give them the SECCI form, explain the credit adequately and assess whether they can afford it. Failing to give the required information in the prescribed form can make the agreement unenforceable.
Professional & Financial ServicesMeet the rules for managing funds and portfolios
To manage client portfolios or investment funds you need FCA permission, then the regime for the funds you run: UCITS, or UK AIFM as a full-scope authorised manager with a depositary or a small registered manager. Larger asset managers also publish TCFD climate reports.
Professional & Financial ServicesMeet your advertising and market research regulatory duties
Marketing by email, text message or automated call must comply with PECR, which generally means getting consent first. Advertising to consumers must not be misleading, aggressive or otherwise unfair, and advertising to businesses must not be misleading either.
Professional & Financial ServicesMeet your cyber resilience duties as a financial services firm
UK financial services firms are held to cyber security through operational resilience, outsourcing, accountability and incident reporting rules. In-scope firms must be able to stay within their impact tolerances during a cyber attack, name an accountable senior manager and tell the FCA about material incidents.
Professional & Financial ServicesMeet your ongoing duties as an FCA-regulated intermediary
You need FCA Part 4A permission for each regulated activity you carry on, and your senior managers need FCA approval. If retail customers sit anywhere in your distribution chain, the Consumer Duty applies. You must also handle complaints, run anti-money-laundering controls and protect client data.
Professional & Financial ServicesMeet your professional, scientific and technical regulatory duties
The titles patent attorney and registered trade mark attorney are protected by law, so you must register with IPReg before you use them and meet its ongoing obligations. Other professional, scientific and technical businesses do not need to register.
Construction & PropertyPay Stamp Duty Land Tax (SDLT)
When and how to pay SDLT on property purchases in England and Northern Ireland, including rates, reliefs, and deadlines.
Construction & PropertyPay stamp duty on shares
How to pay stamp duty or SDRT when buying UK company shares, including rates, exemptions, and the stamping process.
Professional & Financial ServicesProfessional indemnity insurance for law firms
Every SRA-authorised law firm must hold professional indemnity insurance that meets the SRA Minimum Terms, with cover of at least £3,000,000 per claim for companies and LLPs and £2,000,000 for sole practitioners and partnerships. When a firm closes, its last insurer must provide 6 years of run-off cover.
Construction & PropertyRefer a construction dispute to adjudication
If you are in a dispute under a construction contract, you can refer it to adjudication at any time. An adjudicator is appointed and gets your case within 7 days of your notice, and decides within 28 days. Both sides must comply with the decision unless a court or arbitrator later decides otherwise.
Professional & Financial ServicesRegister a money service business or crypto-asset business for AML supervision
Before you trade, register for anti-money laundering supervision: with HMRC if you run a money service business such as money transfer or currency exchange, or with the FCA if you are a cryptoasset exchange or custodian wallet provider. Trading unregistered is a criminal offence.
Professional & Financial ServicesRespond to an SRA investigation of your law firm
When the SRA investigates your firm, respond promptly, accurately and in full: you must cooperate, and ignoring a statutory notice for information is an offence. Take specialist advice, preserve every record and meet each deadline. Outcomes range from no action to a fine, conditions or referral to the Solicitors Disciplinary Tribunal.
Professional & Financial ServicesRun an accountancy, audit or insolvency practice
General accountancy and bookkeeping are not reserved activities — but statutory audit needs registration with a Recognised Supervisory Body overseen by the FRC, insolvency appointments need individual authorisation by a Recognised Professional Body, every accountancy and tax firm needs an anti-money-laundering supervisor, and, from 18 May 2026, tax advisers who deal with HMRC must register with it in phases.
Professional & Financial ServicesRun an occupational pension scheme
A trust-based occupational pension scheme must be registered with The Pensions Regulator, not the FCA, and file an annual scheme return. Trustees must keep their knowledge up to date, defined benefit schemes must meet the funding rules, and schemes in scope must connect to pensions dashboards.
Professional & Financial ServicesRun a peer-to-peer lending or crowdfunding platform
Operating a loan-based (peer-to-peer) or investment-based crowdfunding platform needs FCA authorisation, and operating without it is a criminal offence. Loan-based platforms must also hold minimum capital, limit how they promote to investors, protect client money and keep arrangements to administer loans if the platform fails.
Professional & Financial ServicesRun a technical testing or analysis laboratory
Running a testing, calibration, inspection or analysis laboratory is not itself licensed, but your results are usually accepted only if you hold UKAS accreditation. Some testing, notably asbestos sampling and clearance, is tied to a statutory regime with its own competence and accreditation requirements.
Professional & Financial ServicesSet up your law firm's anti-money laundering programme
Law firms in England and Wales that do conveyancing, company or trust work, or hold client money fall within the Money Laundering Regulations 2017. You need a written firm-wide risk assessment, policies, client due diligence, a nominated officer, staff training and records, and you must report suspicions to the National Crime Agency.
Professional & Financial ServicesTax, advertising and gifted products for content creators
Usually yes to both. If you are trading, free products you receive for posting count as income, and you must label any post about a gifted product as an ad.
Professional & Financial ServicesUnderstand how legal services are regulated in England and Wales
The Legal Services Act 2007 sets the framework for legal services in England and Wales. The Legal Services Board oversees the approved regulators, only authorised people may carry out the six reserved legal activities, and every regulator must promote nine regulatory objectives, including protecting consumers.
Professional & Financial ServicesUnderstand how the Consumer Duty applies to credit products
The Consumer Duty requires consumer credit lenders, brokers and debt collectors to deliver good outcomes for customers, going beyond the CONC rules. You must show your products offer fair value, and your board must review an annual report on customer outcomes.
Construction & PropertyUnderstand property transaction taxes
Which tax you pay on business premises depends on where they are. England and Northern Ireland charge Stamp Duty Land Tax, Scotland charges Land and Buildings Transaction Tax and Wales charges Land Transaction Tax. Commercial and mixed-use purchases use non-residential rates, and returns are due within 14 or 30 days.
Professional & Financial ServicesUse FCA innovation services to test and launch fintech products
How to use the FCA's innovation support services including the Regulatory Sandbox, Digital Sandbox, and Innovation Pathways. For fintech firms developing new financial products who need regulatory guidance or want to test with customers before full authorisation.
Professional & Financial ServicesWhen legal professional privilege exempts you from SAR reporting
A solicitor need not report a money laundering suspicion based on information received in privileged circumstances, under section 330(6) of the Proceeds of Crime Act 2002. The exemption falls away if the information was given to further a criminal purpose, and declining to report still carries a tipping-off risk.
General rules
Common requirements shown separately from guidance directly classified to this sector.
Check if you need to register for VAT
You must register for VAT when your taxable turnover passes the registration threshold in any rolling 12 months, or when you expect it to pass the threshold within the next 30 days alone. Under the first test, register within 30 days of the end of the month. Late registration brings penalties and backdated VAT.
Compliance & LegalFile your confirmation statement
File a confirmation statement every 12 months, within 14 days after your review period ends. Filing late is a criminal offence for the company and its officers.
Premises & OperationsMeet your business waste duty of care
Every business that produces, stores or disposes of waste has a duty of care under section 34 of the Environmental Protection Act 1990, and stays responsible after it hands the waste on. Use only registered waste carriers, complete waste transfer notes correctly, and follow the stricter rules for hazardous waste.
Compliance & LegalVerify your identity for Companies House as a director or PSC
Yes, if you are an individual director or PSC of a UK company, or an individual director of an overseas company registered in the UK. Corporate directors and officers of corporate PSCs are not yet required to verify. The transition for existing directors and PSCs ends on 17 November 2026.
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