The FOS award limit is the maximum amount FOS can require a firm to pay when it upholds complaints. This limit is adjusted each year in line with inflation. From 1 April 2020, the new award limit will be:
- £355,000 for complaints referred on or after 1 April 2020 about acts or omissions by firms on or after 1 April 2019;
- for complaints about acts or omissions by firms before 1 April 2019 and which are referred to FOS on or after that date, the limit will remain at £160,000;
- for complaints referred between 1 April 2019 and 31 March 2020 about acts or omissions by firms on or after 1 April 2019, the limit will be £350,000; and
- for any complaints referred to FOS before 1 April 2019, the limits will remain at £150,000.
For more information, refer to the FOS website.