Make sure you're up to date with Money Laundering Regulations
Their concerns at this prospect centred on a belief that an onerous compliance regime was being put in place which was disproportionate to any benefit that might be derived by law enforcement agencies from suspicious activity reports made.
Following a flow of representations to HM Treasury on this, HM Revenue & Customs (HMRC) announced towards the end of March that it was to update its “MLR 9 – Guide to Registration” to address this feedback. Because of the wide diversity of businesses and views, this informal consultation process took rather longer than anticipated, and MLR 9 was, in effect withdrawn at the beginning of May.
HMRC has now published its revised guidance in a new version of MLR 9 which is available to view/download
Interims potentially affected by the MLR are those who:
Take on the role of director/company secretary at their clients and are therefore TCSPs
Provide accounting services and/or tax advice (Accounting Services Providers (ASPs)).
However, under the new rules, not everyone falling into these categories needs to register. If you may be in scope, you therefore must review MLR 9 carefully to see whether or not you actually need to register under these new rules.
Following a flow of representations to HM Treasury on this, HM Revenue & Customs (HMRC) announced towards the end of March that it was to update its “MLR 9 – Guide to Registration” to address this feedback. Because of the wide diversity of businesses and views, this informal consultation process took rather longer than anticipated, and MLR 9 was, in effect withdrawn at the beginning of May.
HMRC has now published its revised guidance in a new version of MLR 9 which is available to view/download
Interims potentially affected by the MLR are those who:
Take on the role of director/company secretary at their clients and are therefore TCSPs
Provide accounting services and/or tax advice (Accounting Services Providers (ASPs)).
However, under the new rules, not everyone falling into these categories needs to register. If you may be in scope, you therefore must review MLR 9 carefully to see whether or not you actually need to register under these new rules.
2009-01-22 17:20:15