Phil Seaham Auto Services

[Seham Auto Services 1]

Trying to complete my first Gabriel report and the questions they ask are a little ambiguous. I don,t sell Gap and I give away the warranty so is the only thing to be reporting  about  the selling of cars on Finance and total commission I earn  form the cars sold via a finance product ,I,m a little confused can anyone help please ??

[jimreidvehicle 255]

Phil, 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