Change of legal status
Support for authorised firms changing legal status, such as sole trader to limited company, including the fresh FCA application the change requires.
⚠ UNSIGNED-OFF COPY. This page was written during the build so the section could exist and its routes could resolve. It makes no claim about outcomes, timescales, prices or the FCA’s decisions, but claim-free is not the same as signed off. Recorded at
docs/content-removals-for-review.md § 7.
An FCA permission belongs to the legal entity that holds it. When a business changes its legal status, the permission does not travel with the trading name or the people - the new entity is a different legal person, and it needs its own authorisation.
When this applies
- A sole trader incorporating as a limited company
- A partnership incorporating, or a limited company becoming a partnership
- A restructure that creates a new legal entity to carry on the business
What it involves
A fresh application for the new entity, and the orderly cancellation of the old permission once the new one is in place. The sequence matters: the new entity must not carry on regulated activities before its permission is granted, and the old entity’s permission should not be cancelled before the business has moved.
A fixed application fee applies. Our guide on FCA application fees covers the current figure and what it is set against.