FCA Question

[Steve92 80]

I'm just looking at FCA reporting and trying to pull together the figures for the reports but on section 2 of CCR007 "Total revenue (including from activities other than credit-related activities)" 

Is this-

Total sales figures for the reporting period (lets say sold 10 cars at £10,000 each = £100,000)

Total sales figures less amount financed (10 cars sold but each one the customer borrowed £5000, £50,000 from sales £50,000 from Finance =£50,000)

Total amount of credit (the amount financed =£50,000)

Or is it something else, originally I thought it was the amount financed + commission received but i've now confused myself.

 

[jimreidvehicle 255]

Hope this helps

 

CCR007 – Key data for credit firms with limited permission

1 Revenue from Credit regulated activities = this is the total commission inc any volume bonus for the period between when you were first registered and the date given for the report (only thing I was not 100% sure was if you removed the amounts that were debited back for what ever reason, I left these in , just to make sure I was not under reporting)

2. Total revenue (including a from activities other than credit related activities) = quite simply your total turnover from your management accounts

3 Number of transactions involving credit-related regulated activities in reporting period = total number of proposals within the reporting period however you have to include those that were declined and or didn't go ahead

4. Number of Complaints = this should be easy to work out and hopefully NIL

5. Credit - related regulated activity which generated the highest turnover in reporting period = use drop down box SECONDARY CREDIT BROKING

6. Total annual income as defined in FEES 4Annex 11BR for the pupose of FCA fees reporting = this would normally be the same as question one however if this is your first report it may well not be a total of 12 months, so this would be for the total of 12months so if its your first report then should be higher value than question 1

This IS MY understanding of the reporting however this is substantiated by two rather lengthy calls with the FCA, who were very helpful.  

https://www.handbook.fca.org.uk/form/sup/sup16_annex38B_20151231.pdf

best of luck, Jim

[Steve92 80]

Excellent Jim, I'd got the rest, I spoke to the FCA last week and they also mentioned on section 6 it could also be an inclusive/exclusive VAT on the commission, so if you received £100 inclusive of VAT in section 1 it would be £100 but in section 6 it would be £80 - that was the impression i got from her. 

Its funny how they don't want to know how much you have put on finance only the number of cases, the commission and the turnover.