which companies need to register with HMRC under new money laundering regulations?
The types of companies outlined below must register with HMRC and put anti money laundering systems in place so they can identify and prevent money laundering and report any suspicious transactions. Registration dates vary and they must all pay an annual fee (based on the number of premises through which they trade) and must report changes during the registration year. In addition, businesses which are Trust, Company Service Providers or Money Service Providers must also apply for a new fit and proper test for any person who owns or runs the business and their nominated officer or money laundering reporting officer.
Related Questions
- Our new firm is preparing its policies and procedures in accordance with the Money Laundering Regulations 2007. Does the Law Society produce any sample/precedent client care letters?
- What are the provisions when the offence of money laundering is committed by companies?
- Aren there regulations that stop companies taking money from funds?
