Paying a data protection fee – finance and insurance sector

If you do need to pay, the online form will ask for your sector. You can choose, but are not limited, to:

Finance, Insurance and Credit, Financial services and advice, Financial, mortgage and insurance services
Finance, Insurance and Credit, Financial services and advice, Independent financial advisor
Finance, Insurance and Credit, Financial services and advice, Investment management company
Finance, Insurance and Credit, Financial services and advice, Nominee company
Finance, Insurance and Credit, Financial services and advice, Scheme actuary
Finance, Insurance and Credit, Financial services and advice, Tied Agent
Finance, Insurance and Credit, Claims Management, Claims Management
Finance, Insurance and Credit, Debt collection/tracing, Debt administration and Factoring
Finance, Insurance and Credit, Lender, Finance house and credit grantor
Finance, Insurance and Credit, Insurance, Insurance company
Finance, Insurance and Credit, Insurance, Insurance underwriter
Finance, Insurance and Credit, Insurance, Trustees of a life assurance scheme
Finance, Insurance and Credit, Pension, Trustees of a pension scheme
General Business, Business Advice and Consultancy, Consultant
General Business, Private Investigator, Private Investigator & Debt Administrator
General Business, Supplier of Services, Other

Frequently asked questions

I am already registered – why have I received a letter?

If you are registered as a sole trader or your registration does not include your companies house number this could be the reason why you have received our letter. Please let us know.

I have a limited company but I’m a sole trader – who needs to be registered?

This depends on who the data controller is and which entity has the relationship with the client. You will need to determine who is the legal person responsible for the personal data held.

If your limited company is set up for the sole purpose of processing your own accounts then this would not require a fee.

I have CCTV on my business premises for crime prevention reasons – do I need to pay a fee?

Yes. Images of people caught on camera is their personal data. If you record these images to prevent crime, and crime prevention is not the purpose of your business, then you need to pay.

I’m unsure if I am data controller or a data processor – how do I determine this?

It is essential for organisations involved in the processing of personal data to be able to determine whether they are acting as a data controller or as a data processor in respect of the processing. This is particularly important in situations such as a data breach where it will be necessary to determine which organisation has data protection responsibility.

You may find the following guidance useful:

To determine whether you are a data controller you need to ascertain which organisation decides:

to collect the personal data in the first place and the legal basis for doing so;
which items of personal data to collect, i.e. the content of the data;
the purpose or purposes the data are to be used for;
which individuals to collect data about;
whether to disclose the data, and if so, who to;
whether subject access and other individuals’ rights apply i.e. the application of exemptions; and
how long to retain the data or whether to make non-routine amendments to the data.

We can only provide guidance and advice, ultimately it is the Data Controllers decision as to whether a registration is needed.

I am an Independent Financial Advisor - do I need to pay?

If you are providing financial illustrations and guidance to your customers or clients then you would be required to pay a fee.

However, if you are working from a script from the organisation you are working for and the organisation accept that they are the data controller and are legally responsible for the script data processed by you, you may not be required to pay a fee. You can determine this by using this guidance.

I’m an individual who offers consultancy services – do I need to pay?

Providing consultancy and advisory services to individuals and partnerships is not an exempt purpose of processing personal data and you would be required to pay a fee.

I’m an accountant - do I need to pay?

Yes, if you are processing personal information when providing your accountancy service. When acting for your client, you are the data controller in relation to the personal data in the accounts. This is because accountants and similar providers of professional services work under a range of professional obligations which oblige them to take responsibility for the personal data you process.

For example, if you detect malpractice whilst doing the firm’s accounts you may, depending on its nature, be required under your monitoring obligations to report the malpractice to the police or other authorities. In doing so an accountant would not be acting on the client’s instructions but in accordance with its own professional obligations and therefore as a data controller in their own right.

I’m an insurance broker – do I need to pay?

Yes, if you are providing your client’s personal information to another company to complete any quote or purchase, you are processing personal data as an insurance broker and therefore would be required to pay the fee.

I do credit checks on my clients – do I need to pay?

Yes. When performing a credit check via a credit reference agency you will need to pay the fee.

Do I have to pay because I take card payments?

You are also not required to pay just because you take card payments. However, if you provide credit facilities and do credit checks on customers via a credit reference agency, or if you process personal data for any other non-exempt reason, then you do need to pay.

Do I have to pay if I have a website?

It depends on what’s on your website and what other personal data you hold.

If you use your website to promote another person's business activity, goods, or services, you will need to pay because you are advertising and marketing for others.

If you just have a website that advertises your own products or services, then you won’t need to pay because of your website. But you will need to use our self-assessment tool to see if there are any other activities you undertake that mean you do need to pay.

My company is dormant – do I need to pay?

It depends. If your business is dormant and you are not processing personal data electronically, then you’re not required to pay the fee.

However, some businesses and professionals are required to retain some personal data after they cease trading or practicing, as required by industry guidelines. If this applies to you then you probably will need to pay.

Please visit data protection fee exemptions to check.

I have a dashcam on my business vehicle – do I need to pay the fee?

If you have a dashcam that you use for work purposes on a vehicle that you use for work – even if you own the vehicle - then you will need to pay a data protection fee. Again, images of people recorded on camera – even when in their cars - will be their personal data.

More information

There is more information about the data protection fee on our website.

There is also lots of information for sole traders and smaller businesses on our SME web hub, to help you understand data protection and how it can help you safely make the most out of the personal data you hold.