Common Financial Tool
Login to the CFT
The Common Financial Tool (CFT) is used to assess household income and expenditure with a view to setting a contribution across all statutory debt solutions.
It uses benchmark expenditure levels known as trigger figures to assess reasonable levels of expenditure via the Common Financial Statement (CFS).
The CFS is a budgeting tool that can be used by advice agencies and other third party organisations to make debt repayment offers to creditors on behalf of clients. It provides a detailed budgeting format enabling an accurate overview of a client's income, expenditure, assets and liabilities to be produced.
The CFS is not intended for general public use, as it must be administered by a third-party organisation. Individuals seeking assistance with budgeting or financial concerns should speak to a money adviser.
For agencies in England and Wales, the Standard Financial Statement (SFS) operated by the Money and Pensions Service, has replaced the CFS and you should therefore apply for a licence to use the SFS rather than the CFS.
The CFS:
There are trigger figures for telephone, travel, housekeeping and other costs. Fixed expenditure categories such as rent and mortgage payments do not have a trigger figure. This is because what people spend on these items varies widely from household to household.
Further information regarding expenditure and trigger figures can be found in the Notes for Guidance - Common Financial Tool.
The trigger figures are reviewed annually and published in April. Interim changes to the figures may be made if there is a significant increase within any expenditure category.
The current version of the CFS trigger figures was published on 1 April 2024, following revision of the figures.
To obtain the current trigger figures, visit the CFT.
You need to be authorised to access the CFS trigger figures on the Common Financial Tool.
Money advisers with BASYS access can log in to the CFT using their BASYS log in details.
Money advisers without access to BASYS can register for access to the CFT by selecting register on the log in screen.
Login to the CFT
Login in to the CFT training system
Notes for Guidance explaining the information and evidence requirements to support debt solution applications
The CFT working group comprises of representatives from around the debt advice and solutions sector and meets to discuss factors related to CFT and how it works.
The group also manage instructions around the use of this tool including the ongoing maintenance of the Notes for Guidance.