Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Fee definition

What does Fee mean? In property law, fee describes an inheritable estate in land and, in Scots law, the full ownership of heritable property held by the fiar (the person entitled to the capital), often subject to a liferent. It is a common‑law, feudal‑rooted term used across conveyancing and succession rather than a standalone statutory definition, though it appears in expressions defined or recognised by legislation and case law. England & Wales and Northern Ireland: fee is usually encountered in “fee simple (absolute in possession)”, the ordinary freehold estate, capable of sale, mortgage and passing to heirs. The term appears throughout land law and...

UK regulatory fees and levies for authorised firms: FCA and PRA fee-blocks, calculations, payment deadlines, Fees Manual overview, and FOS, FSCS and PSR funding

Published by a LexisNexis Financial Services expert

Practice notes

This Practice Note sets out a summary of the regulatory fees and levies that authorised firms in the UK must pay to support the upkeep of the regulatory system.

Why and how are fees and levies imposed?

As independent bodies, the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) do not obtain any funding whatsoever from the government. Each regulator is authorised to levy charges on the regulated community to finance their ongoing work. These regulatory fees supply the FCA and PRA with the financial resources required to discharge their statutory responsibilities under the Financial Services and Markets Act 2000 (FSMA 2000).

Fees are assessed against a framework of 'fee-blocks', with each block corresponding to a distinct segment of the financial services industry. This model promotes consistency across the wider regulated population. Authorised firms may fall within multiple fee blocks and will be billed a periodic regulatory fee for every fee block to which they belong. The fee-block regime is designed to recover the costs the regulators incur in regulating each sector effectively...

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Web page updated on 21/05/2026

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