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Preparers Levy 2025-26 - GDRs

PREPARERS LEVY 2025-26 FACT SHEET (for GDR issuers)

The purpose of the Financial Reporting Council (FRC) is to serve the public interest and support UK economic growth by upholding high standards of corporate governance, corporate reporting, audit and actuarial work. The FRC's powers come primarily from the UK Companies Act 2006 (CA 2006) and the UK Statutory Auditors and Third Country Auditors Regulations 2016.

The FRC sets the UK Corporate Governance Code and UK Stewardship Code, UK accounting standards (UK GAAP) and actuarial standards; promotes high quality of corporate reporting; sets audit and ethical standards for auditors; monitors and enforces audit quality; and operates independent enforcement arrangements for accountants and actuaries; supervises and oversees relevant professional bodies.

The FRC carries out these responsibilities under the sponsorship of the Department for Business and Trade (DBT).

FRC Preparers Levy

By agreement with the DBT and HM Treasury, the FRC is funded partly through a voluntary preparers levy on the following organisations that are subject to, or have regard to, FRC regulatory requirements in preparing their accounts:

Companies listed on the London Stock Exchange.
UK AIM and AQUIS Market group companies with equity share listing.
All large private entities with a turnover of £500m or more. Large private subsidiaries of UK listed companies are invoiced on the same invoice as their parent company.
Standard Global Depository Receipt (GDR) companies.
Government Departments and other public sector organisations that publish accounts.

The FRC's funding arrangements are based on non-statutory arrangements put in place at the request of the Government. Should these prove unworkable, the Secretary of State is able to make regulations to introduce levies on a statutory basis for the purpose of meeting any part of the expenses of a grant-aided body under Section 17 of the Companies (Audit, Investigations and Community Enterprise) Act 2004.

How much to pay?

The 2025-26 Preparers levy for GDR issuers is made up of a flat fee, depending on the location of their home competent authority. For issuers that have UK as their home competent authority, the levy is £3,450. For other GDR issuers the levy is £2,750. The invoiced amount will appear on an invoice issued by the Financial Conduct Authority.

Contact Us

If you have a question about the method of payment, please contact the FCA contact centre on 0300 500 0597 or [email protected]

If you have a policy related question on the levy, please email on [email protected]

Financial Reporting Council

July 2025

13th Floor 1 Harbour Exchange Square London E14 9GE Tel: +44 (0)20 7492 2300 Fax: +44 (0)20 7492 2399 www.frc.org.uk The Financial Reporting Council Limited is a company limited by guarantee. Registered in England number 2486368. Registered office: as above.

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Name Preparers Levy 2025-26 - GDRs

Publication date 25 July 2025

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