What are the different Financial categories?
The Financial Category Codes, commonly known as Cat Codes (for example, Cat 1), outline the essential requirements for MFR. This includes defining the Maximum Allowable Turnover (MAT) ranges and the necessary Net Tangible Assets (NTA) to support those MAT levels. Additionally, each financial category has specific reporting obligations detailing what information must be submitted and the timelines for doing so.
The table below summarizes the various categories along with their corresponding requirements. Please note that builders are not eligible for an SC1 licence; they must begin with at least an SC2 licence.
