Accounting for Financial Services: What to Look For
Financial services firms operate under FCA regulation, which imposes specific financial reporting requirements including regulatory capital calculations, client money reporting, and compliance monitoring costs. Accountants serving this sector understand CASS rules, ICAAP documentation, FCA annual returns, and the specific VAT exemptions that apply to financial intermediation.
General guidance reviewed 12 July 2026 · How we review content
Browse Public-Record ListingsCommon Services for Financial Services
Corporation Tax
Expert corporation tax compliance and planning for limited companies.
VAT Returns
Accurate VAT registration, returns, and compliance.
Annual Accounts
Statutory annual accounts preparation and filing.
Tax Planning
Strategic tax planning to minimise your tax liability legally.
Audit Services
Independent statutory and voluntary audit services.
Management Accounts
Monthly or quarterly management reporting for better business decisions.
Financial Services Accounting FAQs
What accounting requirements does the FCA impose?
FCA-regulated firms must submit annual financial returns (e.g., RMAR for advisers), maintain adequate financial resources, report client money positions, and in some cases undergo annual audits regardless of size.
How does VAT work for financial services?
Most financial intermediation services (lending, insurance, securities dealing) are VAT exempt. This means providers cannot reclaim input VAT, which becomes a cost. Some services to non-EU customers may be outside the scope of UK VAT.
Do I need a specialist accountant for a regulated firm?
Strongly recommended. FCA reporting has specific deadlines, formats, and requirements that general accountants may not be familiar with. Errors in regulatory returns can trigger FCA attention and potential enforcement action.
Looking for Financial Services accountants?
Review the questions to ask, then check claimed profiles for explicitly confirmed financial services experience.
Browse Directory Listings