On 25 September 2025, HM Treasury (HMT) issued a consultation and call for evidence on the UK’s Commercial Credit Data Sharing (CCDS) scheme.

The government committed to consult on the CCDS scheme at Autumn Budget 2024, to assess potential enhancements.

CCDS scheme

CCDS is an initiative dating back to 2013. It requires major lenders (banks designated by HMT) to share credit information on their small and medium-sized business customers (SMEs) with credit reference agencies (CRAs) designated by HMT, in order to improve access to finance. CCDS operates under the Small and Medium Sized Business (Credit Information) Regulations 2015, made under powers in the Small Business, Enterprise and Employment Act 2015.

Proposals

After setting out the background to the statutory framework for the CCDS, HMT provides an analysis of areas where action may be warranted and invites feedback.

HMT’s proposals include:

  • The implementation of a standard data format that is used by all participants consistently across industry. HMT recognises that such a standard is already in train with industry but wants to know if there should be a role for it or the Financial Conduct Authority to ensure that a single standard for data submission is established and in use, and that the use of previous versions is sunsetted.
  • Seeking views on whether CRAs should set up online data amendment portals, similar to those they have under the consumer credit data sharing scheme, to allow for ease of data amendment, and the costs and benefits of them doing so. HMT is also seeking evidence of the status quo for amending data and what challenges may arise to help formulate a position.
  • Asking whether the timeframe for designated banks to submit data to a designated CRA should be shortened to enhance timeliness and improve data accuracy.
  • Potential amendments to the legislation to account for issues arising from the definition of an SME
  • Potential adjustments to the application of the CCDS regime which currently imposes a duty on designated banks to be able to designate a wider set of designated providers of finance, given that the marketplace for lending has diversified considerably since the original regulations were enacted.

Next steps

The deadline for comments on the consultation and call for evidence is 20 November 2025.

Depending on stakeholder feedback HMT may explore whether existing legislation needs to be amended or whether the policy objectives can be achieved by alternative means such as through relevant guidance.