Category: HMRC News and Guidance

Money Laundering Regulations Breaches

Money Laundering Regulations Breaches. For professional firms that provide defined services, the regulations require their anti-money laundering systems and controls meet the UK’s anti-money laundering regime’s requirements. The regulations require these firms to ensure that relevant employees are kept aware of the firms’ policies, controls and procedures and are accountable for their actions.

Continue Reading

HMRC to contact businesses registered under the Money Laundering Regulations

HM Revenue & Customs (HMRC) Anti-Money Laundering Compliance Officers will shortly begin a programme of telephoning businesses registered with, and supervised by HMRC under the Money Laundering Regulations (MLR).

Continue Reading

United Kingdom and Isle of Man to sign enhanced tax information exchange agreement

United Kingdom and Isle of Man to sign enhanced tax information exchange agreement The Government is to sign a tax information sharing agreement with the Isle of Man which will provide HM Revenue & Customs (HMRC) with a range of additional information about potentially taxable income in Manx bank accounts. This is part of a

Continue Reading

Memorandum of Understanding between HMRC and the FSA for joint supervision

A Memorandum of Understanding between HMRC and the FSA was published on the FSA website on 1 June 2012. It’s about sharing information and joint visits. This will be of particular relevance to many money services businesses whom are supervised not just under the Money Laundering Regulations by HMRC but are also the FSA by

Continue Reading

Identifying counterfeit euros

Identifying counterfeit euros – consultation decision HM Treasury (HMT) have published the results of their consultation on the UK’s implementation of European Union (EU) Regulations 44/2009 and 45/2009, requiring Currency Exchange Offices and Money Transmitters to have procedures in place selectively to check euro notes and coins using an approved method. Following the consultation, the

Continue Reading

Former ATT President Charged With Tax Fraud

Andrew Meeson, the former President of the Association of Taxation Technicians and three of his business associates who administered a pension scheme, have been charged with stealing £5million through a tax fraud targeting the pension industry.

Continue Reading

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.

Continue Reading

07.06.11 HM Treasury Publish MLR Review

HM Treasury published its response to the review of the Money Laundering Regulations 2007. It is a consultation document requiring responses to be submitted by 30August 2011.

Continue Reading

29.01.11 Pilot scheme to give law enforcement agencies access to MSB register

A new scheme is being piloted to give police and other law enforcement agencies access to information held on HMRC’s Money Service Business (MSBs) register. Under the scheme each month agencies will be given details of all Money Service Businesses in their area held on the MSB register.

Continue Reading

07.09.10 HMRC Guidance – Pakistan floods disaster – guidance on transmitting money

The Government recognises the crucial importance of individual giving and charitable donations at times of humanitarian crisis such as the Pakistan floods and therefore understands and values people’s desire to give money. This underlines the importance of knowing that money sent with best intentions is not inadvertently finding its way into the wrong hands.

Continue Reading

Browse Blog Archives

Sign Up For Updates:

Enter your email address: