Fund Distribution Alert 2025-05

United Kingdom: The FCA’s updated fees for the year 2025-2026

21 July 2025

Partner

KPMG in Luxembourg

On 1July 2025, the Financial Conduct Authority (FCA) published the Policy Statement containing FCA regulated fees and levies for the period 2025/26.

Below is a summary of the changes for the fees levied between the period between 2024/25 and 2025/26 for foreign funds registered in the United Kingdom:

1) Notification fees:

	2024/25	2025/26
Regulations 57,58 and 59	£270	£280
Section 271A - Standalone fund application fee	£2,720	£2,790
Section 271A - Umbrella fund application fee	£5,440	£5,580
Section 272	£10,880	£11,150

2) Periodic Fees:

	2024/05	2025/26
National Private Placement Regime: a) Regulation 57 b) Regulation 58 c) Regulation 59	a) £397 b) £277 c) £397	a) £407 b) £284 c) £407
Section 271A - Based on total funds/sub-funds aggregate: 1-2 3-6 7-15 16-50 >50	Basic fee: £80 £80 £200 £400 £880 £1,760	Basic fee: £40 £40 £100 £200 £440 £880
Section 272	Basic fee: £320 £320 £800 £1,600 £3,520 £7,040	Basic fee: £160 £160 £400 £800 £1,760 £3,520

2024/05

2025/26

National Private Placement Regime:

a) Regulation 57

b) Regulation 58

c) Regulation 59

a) £397

b) £277

c) £397

a) £407

b) £284

c) £407

Section 271A - Based on total funds/sub-funds aggregate:

1-2
3-6
7-15
16-50
>50

Basic fee: £80

£80
£200
£400
£880
£1,760

Basic fee: £40

£40
£100
£200
£440
£880

Section 272

Basic fee: £320

£320
£800
£1,600
£3,520
£7,040

Basic fee: £160

£160
£400
£800
£1,760
£3,520

Contacts

Stéphanie Zedda

Partner
+352 22 51 51 7271
stephanie.zedda@kpmg.lu

Henrik Olsson

Senior Manager
+352 22 51 51 7417
henrik.olsson@kpmg.lu