Posts Tagged ‘supervisor registration’
01.09.11 Money Laundering Regulations cease to apply to stocktakers from 1 October 2011
As part of its review of the Money Laundering Regulations and in order to ensure its effective and proportionate implementation by businesses in the UK, the Treasury has reviewed the risk of money laundering and terrorist finance with HMRC and the Institute of Licensed Trade Stock Auditors. As a result the ...
20.07.10 HMRC issue new Anti money laundering guidance
A new set of anti money laundering guides have been published on the HMRC internet site to replace Public Notice MLR8: Preventing money laundering and terrorist financing. The new guides are sector specific and provide detailed guidance in relation to the legislation, risks, record keeping and reporting requirements relevant to ...
17.07.10 HMRC Publish Supervisory Visits Statistics
In mid June HMRC a paper, which went to some length to describe the activity of the HMRC supervisory team and publish various statistics. HMRC now state that between the four sectors they have responsibility for supervision they now have over 18,000 registered firms, of which just over 14,000 are accountancy ...
16.07.10 HMRC Publish their paper ‘What are your fees used for?’
In mid June HMRC published the above paper, which went to some length to describe the activity of the HMRC supervisory team and publish various statistics. This contains some very interesting statistics and some serious areas for concern, especially in the accountancy service providers sector. HMRC now state that between the ...
16.04.10 Decision on appeal against registration under the Money Laundering Regulations 2003
Decision on appeal against registration under the Money Laundering Regulations 2003 A First-tier Tribunal (Tax Chamber) decision regarding registration of businesses under the Money Laundering regulations 2003 has now been published. The Appellant had claimed that it was not liable to register with HMRC under the Money Laundering Regulations 2003 because it ...
31.03.10 HMRC Announce Penalties for non-registration
HMRC Announces important information for Money Service Businesses, High Value Dealers, Trust or Company Service Providers and Accountancy Service Providers who have failed to apply for Money Laundering Regulations Registration. HMRC announce that a new late registration penalties policy has been introduced for Money Service Businesses, (MSBs) High Value Dealers, (HVDs) ...
19.01.10 OFT warns of deadline for anti-money laundering registration
Estate agents and certain consumer credit lenders must register under anti-money laundering regulations before 31 January 2010 to avoid breaking the law, the OFT warned today. Carrying on business having failed to do so could result in the imposition of a fine by the OFT, a prison sentence, or both. Money laundering ...
10.11.09 HMRC Publish Money Laundering Regulations Memorandum Trading Account
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 ...
05.11.09 HMRC MLR Registration Fee level remains unchanged for 2010-2011
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 ...
23.09.09 HMRC announce MSB online register
HMRC had recently sent out a letter to all Money Service Businesses (MSBs) to tell them about their intention to publish an online MSB register by the end of 2009. This register is currently being developed and will be called the MSB online registration check. When finished it will allow for ...
