Payment of fees by installments seems to be fairly typical of Limited Companies, but some of my soletraders pay me as and when purely because they don't save to pay my fees. I am struggling to work out if we now have to obtain a licence under the Financial Conduct Authority as the ACCA no longer have a group licence. Or do we have to tell clients they can no longer pay by installments?
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I think that payment in 4 instalments eg quarterly standing order, is ok - but it's hard to be sure, or to find certainty in the usual forest of legislation.
Presumably invoicing a monthly fixed fee and being paid by SO is OK?
What about when clients take longer than term or pay amounts on account with or without agreement?
acca
Looking at the detail it seems that if you do not charge interest etc then you are fine.
Its only if you give more than 3 months credit.
If a client takes 12 months to pay, you have not given them that credit or agreed to it, its just the way it has worked so i do not see that you would fall in to it.
As long as you do not give any other advice in the other sections then you will not need to DPB reg or FCA reg.
thats my take on it anyway.