Financial Ombudsman Service’s award limits rise for the new financial year

The Financial Conduct Authority (FCA) has confirmed the Financial Ombudsman Service’s (FOS) award limits will rise for the new financial year.

The award limit is the maximum amount the FOS can require a financial business to pay when it upholds complaints. The limit is adjusted each year in line with inflation, as measured by the Consumer Prices Index (CPI).

From 1 April 2026 the award limits will increase to:

• £455,000 for complaints about acts or omissions by firms on or after 1 April 2019 (an increase of £10,000 on the previous year)
• £205,000 for complaints about acts or omissions by firms before 1 April 2019 (a rise of £5,000 over the previous year)

Different limits will apply depending on when the complaint was raised with the FOS.