Trust company business and specified Schedule 2 business fees for 2021
In November, we published consultations regarding fee rates for Trust Company businesses (TCB) and registered persons. We received a large amount of feedback on these consultations and are extremely grateful for this.
TCB fees
We have now published our consultation feedback paper for TCB fees. In summary we are:
- increasing the fees cap to £90,000 or 95% of the fee that would otherwise be payable
- moving to a five-year rolling average for:
- TCB employee numbers
- licences held
- introducing an amendment fee
- introducing a change of control fee.
Relevant firms will receive notification via myJFSC that an invoice is ready for them or that they need to provide data for their fees to be calculated.
The due date for payment of annual fees is 28 February.
Link to TCB consultation feedback paper
Specified Schedule 2 Business fees
We have now published our consultation feedback paper for DNFBP fees. In summary we are:
- increasing the fees cap to £30,000
- moving to a five-year rolling average for employee numbers
- introducing an amendment fee.
Relevant firms will receive notification via myJFSC that an invoice is ready for them or that they need to provide data for their fees to be calculated.
The due date for payment of annual fees is 31 March (total fees of over £1,000 may be paid in instalments).
Link to schedule 2 - Other Specified Business fees