On 7 September as part of our preparations for the Money Laundering Regulations 2007 we released the latest draft of our public notice MLR 9 - Registration (PDF 451K). This notice, which will be effective from 15 December 2007, will help businesses understand if they need to register with HMRC, how to register and when to apply. It also gives details of the fit and proper test for Money Service Businesses and Trust or Company Service Providers.
We have also created two areas on this website for the two new business sectors to come under HMRC supervision:
We will publish example registration forms on this website in the near future.
For further information on the new Regulations please see our Money Laundering Regulations 2007 pages.
From 15 December 2007 Money Services Businesses (MSBs) and Trust or Company Service Providers (TCSPs) under HMRC supervision will be subject to a fit and proper test.
The fee for the fit and proper test will be £50 and will apply to each individual in a position of ownership and control in any MSB or TCSP business.
The fit and proper test will be conducted on individuals at the time a business applies to register as a TCSP or MSB. It is intended to disrupt criminal access to the these sectors and will play a key role in the Government’s anti-money laundering strategy.
The following timetable will apply:
Draft application forms will be available on this site in the near future. We will be publishing more information on how to register with us in the run up to December.
You can find more information in the section 'Registering with HMRC for Money Laundering Regulations' on our website.
In April this year businesses due to renew their MLR registrations on 1 June 2007 were sent a notification showing an incorrect figure for the annual renewal fee. We wrote to all these businesses on 18 April advising them of the error and apologising for any inconvenience. We also confirmed that we would re issue the June notifications with the correct information.
We have now sent out all the amended renewal notifications for June showing the correct amount due from each business. As the correct notifications have been sent out later than we would wish, HMRC will extend the due date for payment until 14 June.
When you receive your notification, please send the correct payment to the address shown below. If you have already sent a payment which is lower than the amount now due please send the additional payment to the address below.
Please write your MLR registration number on the back of your cheque payment.
Once again please accept our apology for any inconvenience.
HM Revenue and Customs
Banking Group, 6th floor
Alexander House
21 Victoria Avenue
Southend on Sea
Essex
SS99 1AG
We would like to tell you of a change to the annual registration fee for Money Service Businesses (MSBs) and High Value Dealers (HVDs) taking place from 1 June 2007.
You may have recently received a letter from HMRC informing you that your annual registration under the Money Laundering Regulations is up for renewal and requesting payment of your annual fee.
We are sorry to say that the notices dated 5 April 2007 contain incorrect information. We are currently finalising our fee levels, and so the calculations shown on the letter you received were wrong. Unfortunately, an administrative error meant that these notices were sent out with the wrong information on them.
We are deeply sorry for any inconvenience that this may have caused you. If you have received one of these notices, please ignore it. We will be in touch very soon regarding the fee arrangements for 2007/08.
Once again, we would like to apologise for our mistake. This was an unfortunate administrative error on our part, and we will work hard to prevent this happening again.
