Consumer credit

If your business provides credit facilities to customers, you will need to comply with a number of laws - particularly the Consumer Credit Act and the Consumer Credit Directive. The rules also apply when goods are hired or leased out.

In most cases, you'll have to apply to the Financial Conduct Authority (FCA) to be licensed to provide credit. Licences are only granted to those businesses that satisfy the FCA that they are fit to engage in the activities covered by the licence.

This guide outlines which businesses require a consumer credit licence. It explains how to apply for a licence. It also explains the rules around credit agreements and advertising credit.