Consultation feedback on insurance business fees
In September, we asked for feedback on our proposals to change fee rates for insurance businesses. This consultation is now closed and we are proceeding with our proposed increase.
In summary, from 1 October, we will be increasing insurance business fees by 12.5%
We are also increasing the fee payable for the transfer of an insurance business by £2,000 (34%). This increase reflects the significant work required for individual businesses who make these applications.
If your business is experiencing financial constraints due to Covid-19 and you are concerned about paying your fees on time, you should contact your supervisor.