UK FOS consults on plans and budget for 2026/27

The UK Financial Ombudsman Service (FOS) has launched a consultation on its plans and budget for 2026/27. Key proposals include increasing its case fee to GBP680 and compulsory levy to GBP86 million. The FOS has also announced that it will simplify its billing process for the next financial year by replacing the free case allowance with a monetary value of GBP2,000 for both respondent businesses and professional representatives. It is also introducing quarterly billing in advance for the largest businesses expected to account for the most cases. The FOS anticipates receiving 188,000 cases across a range of financial products, including bank accounts, credit cards and insurance, and resolving 245,000 cases as it works through its existing backlog. Of these, around 60,000 are expected to relate to motor finance commission complaints. The FOS is also preparing for deferred payment credit (buy now, pay later) complaints to fall within its remit from July 2026, meaning it is likely to start receiving these complaints in the second half of 2026/27. The deadline for comments is 21 January 2026.

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