Archive for November, 2009
10.11.09 SOCA publish The UK threat assessment of Organised Crime
Posted by: BTC in SOCA - Latest News on November 10th, 2009
SOCA publish The UK threat assessment of Organised Crime
The UK threat assessment of Organised Crime has been published on the Serious Organised Crime ( SOCA) website
The assessment describes the threats to the UK by organised crime and considers how these threats may develop. For businesses subject to the Money Laundering Regulations (MLR) this information will help you to assess the money laundering risk to your business and to develop effective anti money laundering policies and procedures.
10.11.09 HMRC Publish Money Laundering Regulations Memorandum Trading Account
Posted by: BTC in HMRC News and Guidance on November 10th, 2009
HMRC Publish Money Laundering Regulations Memorandum Trading Account
The Money Laundering Regulations supervisory regime is run on a cost recovery basis and the fees paid by customers cover the expense of running the operation. HMRC costs include registering new businesses, contacting and visiting businesses, running an effective risk system, maintaining the register and producing guidance and information for customers.
This account summarises the resources that have been applied and generated in providing services and managing the HM Revenue & Customs (HMRC) Money Laundering Regulations supervisory regime for the year ending 31 March 2009. The figures are consistent with the HMRC 2008-09 Resource Accounts prepared in accordance with UK GAAP.
|
|
Costs |
Income |
| Staff costs | £3,270,383 | |
| Non cash costs : Depreciation Costs of capital |
£162,789 £51,070 |
|
| Travel and subsistence | £136,776 | |
| Other admin costs | £6,031 | |
| Income | (£4,436,049) | |
| Overheads | £2,305,564 | |
| Totals | £5,932,613 | (£4,436,049) |
| Net operating cost | (£1,496,564) |
Notes: The £1,496,564 deficit for the year results from a large fee being challenged. HMRC have not included the amount under challenge within the above figures to maintain consistency with audited HMRC figures. However, HMRC have issued a statement of demand for the amount and are pursuing payment during 2009-10.
05.11.09 HMRC MLR Registration Fee level remains unchanged for 2010-2011
Posted by: BTC in HMRC News and Guidance on November 5th, 2009
The annual fee for businesses registered under the Money Laundering Regulations 2007 will remain at £120 per premise for the year 2010 – 2011. HMRC are pleased to be able to provide early confirmation of next year’s fee level as they are aware that many larger businesses appreciate as much notice as possible to help in their financial planning.
Introduced in 2002, the fee was initially set at £100, and was subsequently reduced to £60 from June 2003. There were no changes until 1 June 2007, when the fee was increased to £95; this level was maintained in 2008, and increased to £120 in 2009.
