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The FSA has extended its pay-in-instalments scheme for firms for 2007/8. Premium Credit Ltd has again been selected as the preferred supplier by the working group, and will continue to guarantee auto-acceptance to all FSA authorised firms.
Interest rates of 3.35% (9.2% APR), with a rate of 2.85% (7.8% APR) for trade association members, have been agreed for firms wishing to pay their regulatory fees and levies by this method.
In 2006/07, over 3,800 firms chose to pay by instalment, following the agreement reached by an FSA-chaired working group - which included representatives of several trade bodies - to ensure this facility would be available for three years.
Graeme Ashley-Fenn, director of contact, revenue and information management at the FSA, says: "I am delighted the FSA has again been able to negotiate very competitive rates for our authorised firms. The option to pay by instalments is a key part of making the FSA easier to do business with and is especially valued by smaller firms."
Chris Cummings, director general of the association of ifas (AIFA) commented, "Having campaigned for the introduction of the scheme, we are pleased that it has been such a success and that members will continue to benefit from preferential rates and the ability to improve their cash flow."
Mark Dempster, head of DDMS at Premium Credit added, "This is another example of Premium Credit’s unique position in providing added value to its trade association clients."
For further info contact: marketing@pcl.co.uk
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