HM Treasury has published a consultation and call for evidence on enhancing the UK’s Commercial Credit Data Sharing (CCDS) scheme. which facilitates the sharing of credit informaiton on SMEs between lenders and credit reference agencies to improve access to finance.
Proposals include:
- Implementing a standard data format for all CCDS participants to improve data quality and consistency;
- Introducing online portals for data amendments to streamline the process and reduce errors, similar to those used in consumer credit data sharing;
- Tightening deadlines for data submission to ensure consistency and accuracy in SMEs’ credit files, potentially reducing the current 30-day window for data submission;
- Adjusting the CCDS regulations to better manage SMEs transitioning in and out of the scheme, particularly concerning the £25m turnover threshold; and
- Expanding the definition of designated banks to include other finance providers.
The consultation closes on 20 November 2025.