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.
|Non cash costs :
Costs of capital
|Travel and subsistence
|Other admin costs
|Net operating cost
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.