I have a client who has asked me if I was regulated to the Money Laundering Regualtions 2003 act.
The clients need someone who is to verify there identity.
I am currently not regulated by this act and was wondering how to go about getting regulated and if it is worth it.
Thanks
John
Replies (1)
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It's compulsory
If you offer accountancy / book-keeping / tax services to members of the public for a fee then you are required to register as an 'Accountancy Service Provider' (ASP) with HMRC under the Money Laundering Regulations 2007 (unless you are already registered under the MLR with a professional body).
Have a look at this page:
http://www.hmrc.gov.uk/mlr/getstarted/register/asp.htm
David