Important Information for Accountancy Service
Providers who have failed to apply for Money Laundering Regulations
Registration
If you are in business as an Accountancy Service Provider and are required
to register with us under the Money Laundering Regulations 2007
Documentary evidence of identity (ID)
New ID card for foreign nationals being introduced from the 25 November
2008.
Extended deadline for ASP applications
If you are in business as an ASP you must be registered with HM Revenue
& Customs (HMRC) before 1 January 2009.
Important Information for TCSPs who have failed
to apply for MLR Registration
TCSPs must send us completed application forms, Fit and Proper forms
and appropriate fees without delay.
Money laundering regulations' application
deadline for TCSPs and ASPs
A reminder for Trust or Company Service Providers (TCSPs) and Accountancy
Service Providers (ASPs) that to apply to register under MLR 2007, you
must send in your application forms by 30 September 2008.
ASPs using the CCAB Anti Money Laundering
Guidance
Accounting Service Providers using the CCAB AML Guidance, should contact
us if they have queries about the guidance.
Notice MLR8 Guide to preventing money laundering
and terrorist financing
The Money Laundering Regulations Notice MLR 8 has been updated and is
now available.
Money Services Business action
plan (PDF 65K)
In response to the Treasury document 'the financial challenge to crime
and terrorism', HMRC has published a money service business action plan
to root out abuse of the money service sector for money laundering purposes.
MLR 9 Registration Notice updated and
registration dates announced
Important news for Trust or Company Service Providers (TCSPs) and Accountancy
Service Providers (ASPs), we have updated our MLR 9 Registration Notice
to clarify which businesses need to register with us.
We have also announced the dates that TCSPs and ASPs must be on the register and recommended dates for submitting applications to give us time to process registrations by these dates.
Revisions to MLR 9 Guide to Registration
We would like to advise you of two changes to the MLR 9 Guide to Registration
related to:
Update for TCSPs and ASPs
We would like to inform Trust or Company Service Providers and Accounting
Service Providers of the latest position regarding updated registration
guidance.
Update for Trust or Company Service Providers
We would like to inform Trust or Company Service Providers of the latest
position regarding updated registration guidance.
Update for Accountancy Service Providers
We would like to inform Accountancy Service Providers that registration
guidance will be updated.
Important news for Trust or
Company Service Providers (TCSPs)
HMRC will allow businesses to apply to register as a TCSP without penalty
until 31 May 2008.
Financial institutions in the UK should give special attention to business relations and transactions with persons, including companies and financial institutions, from jurisdictions that do not adequately apply the FATF Recommendations.
The FATF is an inter-governmental body that develops national and international policies to combat anti money laundering (AML) and the financing of terrorism (CFT). It has released a public statement (PDF 31K) on several countries highlighting their concerns over deficiencies in their AML/CFT legislation.
The countries are Iran, Pakistan, Uzbekistan, Turkmenistan, Sao Tome and Principe, and the northern part of Cyprus.
More information on FATF can be viewed on their website (Opens new window).
If you deal with any of the countries listed you should take account of these concerns in your AML Risk Assessment (MLR 8 appendix 3).
Money Service Businesses (MSB)
Changes to the registration process.
To help Money Transmitters we have updated our guidance on our EU Payment Regulations 2007 and the Transfer of Funds Regulations page.
Money Service Businesses - late applications
to apply to re-register under the Money Laundering Regulations (MLRs)
2007
All existing Money Service Businesses (MSBs) should now have submitted
their application forms to re-register under the MLRs 2007 along with
their fit and proper test application forms and appropriate fees.
We have today announced the level of the annual fee paid by businesses registered with HMRC under the Money Laundering Regulations 2007.
The fee for 2008/09 will be £95 per premise. This is the same as the fee level for 2007/08.
HM Revenue & Customs (HMRC) have today announced the introduction of a register for ASPs from 1 April 2008 under the Money Laundering Regulations 2007.
Existing ASPs (who are not already supervised by one of the professional bodies listed in schedule 3 of the Regulations) will be required to be registered by 1 October 2008.
HMRC has set an administrative deadline of 1 July for the receipt of applications to enable the department to process applications before 1 October 2008 when the register will come into effect.
From 1 October all ASPs will be required to register before they start trading.
When applying to register and on each anniversary of their registration, ASPs will be required to pay a registration fee. This is currently set at £95 per premises. The level of the fee is reviewed annually.
We have provided guidance for registering with HMRC in our MLR 9 Guide to Registration (PDF 1.0MB). Forms and guidance on how to complete them are available to help businesses meet the 1 July administrative deadline.
For further information please see our ASP section.
MSBs must apply for re-registration and for their fit and proper test with HMRC by 1 February. By meeting the deadline businesses can continue to trade without incurring penalties.
If you are a MSB and have not yet applied to re-register you can download the forms you need and our Registration Guidance (PDF 204K) will give you further information.
