DHC Accounting

Unit 7, Lillyhall Business Centre
Jubilee Road, Workington
Cumbria, CA14 4HA
Tel: 01900 64464 - Fax: 01900 64466

Search News


Money Laundering Regulations

Source: HM Revenue & Customs | | 29/03/2017

The Money Laundering Regulations (MLR) are designed to protect the UK financial system and put in place certain controls to prevent businesses being used for money laundering by criminals and terrorists.

Many businesses are monitored by the Financial Services Authority or certain professional bodies. However, businesses that HMRC is responsible for supervising should be aware of the requirement to register with HMRC and the penalties for not doing so.

HMRC is responsible for supervising the following five business types:

  • Money Service Businesses (MSBs)
  • High Value Dealers (HVDs)
  • Trust or Company Service Providers (TCSPs)
  • Accountancy Service Providers (ASPs)
  • Estate Agency Businesses (EABs)

The online service for registration and renewals is currently unavailable. HMRC expects the service to be available again from 3 April. This means that those planning to renew won’t be able to do so before 1 April. HMRC has confirmed that as long as the renewal is completed before the end of April 2017 no penalties will be charged for late renewal.



 

Latest News

Pre-election publications by HMRC
26/04/2017 - More...
HMRC has announced via one of their blogs that readers will notice that communication will be much less than normal

Initial launch of Tax-Free Childcare Scheme
26/04/2017 - More...
The new Tax-Free Childcare Scheme (TFCS) is now available to the first tranche of working parents. The scheme has

Update on Finance Bill 2017
26/04/2017 - More...
Following the Prime Minister’s unexpected announcement that there will be a snap general election on 8 June 2017,

Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

 

 

Copyright © 2013 - DHC Accounting

Cookie Policy