Trust or Company Service Providers (TCSPs)

From 15 December 2007, if you are a Trust or Company Service Provider then the Money Laundering Regulations 2007 will affect you.

Your business will need to register with HMRC and set up anti-money laundering controls. You will need to apply for a fit and proper test and pay the relevant fees for registration and the fit and proper test.

We recommend:

If you are currently in business as a Trust or Company Service Provider or you are setting up a new TCSP business, then we recommend that you start to prepare for the new regulations.

Our New Money Laundering Regulations page will give you the support and help you need to prepare for the changes. Our Legislation and Guides page will provide you with the information you need and the legislation you must follow.

To help register and apply for a fit and proper test you can find the forms you will need and guidance to help you complete them in our forms section. We have also added some TCSP Frequently Asked Questions.

When do I need to register by?

You will need to send us MLR 100 registration form (PDF 804K) and MLR 101 fit and proper test application (PDF 243K) form(s) and appropriate fee(s). Guidance notes to complete both forms are available on our forms section.

HMRC will allow businesses to apply to register as a TCSP without penalty until 31 May 2008.

If you are setting up in business as a new TCSP on or after the 15 December you will need to apply to register and apply for the fit and proper test before you can carry on your business.

Tell me about

What is a TCSP?

A Trust or Company Service Provider (TCSP) is any person who by way of business provides any of the following services to third parties:

  • forming companies or other legal persons
  • acting, or arranging for another person to act as a director or secretary of a company, as a partner of a partnership, or in a similar position in relation to other legal persons
  • providing a registered office, business address, correspondence or administrative address or other related services for a company, partnership or any other legal person or arrangement
  • acting, or arranging for another person to act as a trustee of an express trust or similar legal arrangement, or a nominee shareholder for another person other than a company listed on a regulated market which is subject to disclosure requirements consistent with Community legislation or equivalent international standards

However, you will not need to register with us if your practice will be supervised by one of these legal or accountancy professional bodies:

  • Association of Accounting Technicians
  • Association of Chartered Certified Accountants
  • Association of International Accountants
  • Association of Taxation Technicians
  • Chartered Institute of Management Accountants
  • Chartered Institute of Public Finance and Accountancy
  • Chartered Institute of Taxation
  • Council for Licensed Conveyancers
  • Faculty of Advocates
  • Faculty Office of the Archbishop of Canterbury
  • General Council of the Bar
  • General Council of the Bar of Northern Ireland
  • Insolvency Practitioners Association
  • International Association of Book-keepers*
  • Institute of Certified Bookkeepers
  • Institute of Chartered Accountants in England and Wales
  • Institute of Chartered Accountants in Ireland
  • Institute of Chartered Accountants of Scotland
  • Institute of Financial Accountants
  • Law Society
  • Law Society of Scotland
  • Law Society of Northern Ireland

* HM Treasury has indicated to the International Association of Book-keepers that it is their intention to propose legislation to insert them into Schedule 3 Part 2 of the Money Laundering Regulations 2007.