Preparing the RegData report

There are a few things to consider before you start the RegData report, such as:

1. Have you entered and updated the Staff/Advisers list? This can be found in “Settings > Staff/Advisers”.
   
2. Have you entered any complaints against the business? These can be added in “Settings > Complaints” (Not compulsory and does not get submitted but can be used as reference later to manually fill in on the FCA website).   
3. Are your “Charges” up to date? This can be found in “Settings > Charges”.
   
4. Also make sure the general settings are up to date, from “Settings > General”   
5. Are your accounts up to date and have all transactions been posted into MyRegData? For the income/expense headers and your bank account balances in MyRegData.
   
6. Have you checked with an accountant if any adjustments are needed and that your Trial Balance is finalised.
   
7. Corporation Tax is calculated during the RegData report process, if you have already posted a transaction for this, then it will be accounted for again in the RegData report. Please make sure to do your Corporation Tax entry after you have done the RegData report.
   

When you are ready to begin the report, you can do so by going to “Reports > RegData Report”.

From the RegData Report screen, you will see the previous reports that have been created, unless this is the first report you are doing.

To start your next one, enter the date in which you are running the report to (Either the 6-month interim date, or the end of year date if doing a 12-month report). Then click the “Next” Button.

You will now be in the RegData Report Wizard, where you will be asked a series of questions across multiple pages.

These questions will be about your business and what kind of work you do.

Some questions when answered may produce further questions.

It will not let you proceed to the next page unless all questions have been answered.

Press “Save and Next” to move onto the next page when you have answered the current pages questions.

If you are unsure of how to answer a particular question, you should seek the advice of a compliance advisor / your accountant or the FCA directly.

We cannot provide advice on how to answer any of the questions in the RegData Report Wizard.

Work your way through each page, it will then calculate the RegData report, please allow some time for this process to finish.

 

Once the report has been generated, it will open the RegData report starting at Section A.

 

Click on the Section Headers at the top to switch between each section. Make sure to look through all sections and confirm you are happy with the reported figures and answers.

 

In Section B2, Box 11 – there will be a calculated entry for the Corporation Tax.

You will need to make sure the percentage used here is correct, please see HMRCs guidance on what the Corporation Tax rate is dependent on your profit.

https://www.gov.uk/corporation-tax-rates

Once you have your percentage rate, enter it in here and click “Save” and then continue going through the sections.

If you have specified that this is a 12-month report, then you will have an extra Section: J – also if you have Investment Permissions and is a 12-month report, again you will have another additional Section: K. It is important to go and fill in Section K as the details in there are required for submission.

You can print a copy of the full RegData report from the “Print” button at the top.

When you are ready to submit, click on “Back to Reports List”, then from the report list, there is a “Submit to FCA” button next to each RegData report that has been saved.

Click this button for the current report you have just created, you will be prompted for your FCA Submission password, enter it here to continue (if you do not know this, please contact us as we have a record of the FCA submission password if it was created with us when you first signed up).

If you have made any changes in MyRegData before you attempt to submit it, like posting new adjustments, please make sure to click “Refresh” for the changes to be picked up and then review the sections again.

 

 

Please note, when submitting, a screen to show you all sections that are due to the FCA will display (These are taken from your FCA account as per what the FCA are saying are due).

We advise submitting them one by one, by ticking one section and submitting. It is quite common that trying to do them all at once will seem like it has submitted but will not have actually sent it over.

Also note, that this will display all sections that are due, including ones that cannot be submitted in MyRegData and need to be filled in manually on the FCA website.

You should only try and submit Section A – K, any other section seen should be done manually on the FCA website instead (usually named Other or Complaints).

You can then log into the FCA website and see your submitted sections and whether they have passed validation or not.

Clicking on a section with an error should tell you why it failed.

 

Once all the sections have been submitted and validated, you should click the “Lock” button and the “Draft” button to mark them as complete.

 

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