Money Laundering

Money Laundering

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I kindly received a letter from The Institute of Certified Bookkeepers yesterday (of which I am NOT a member), informing me that as of 15th December 2007, bookkeepers will be supervised under the new Money Laundering regulations.

I am ACCA qualified and an ACCA member, however, I am not in practice under the ACCA, hence doing bookkeeping work.

Do I need to comply with the Money Laundering regulations? i.e. as i am not actually in practice under any professional body.

In other words, is it the fact that you provide bookkeeping services, or the fact that you provide bookkeeping services practising under a professional body?

Any advice appreciated.

Nicola
Nicola Dobson

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By AnonymousUser
30th Sep 2007 10:12

Agreed
I agree, in my understanding it's being a book-keeper or accountant that requires supervising, whether a member of a professional body or not. If you aren't going to be supervised with a professional body, you need to register with HMRC.

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David Winch
By David Winch
30th Sep 2007 14:40

Charging for bok-keeping services

I agree, if you charge for providing book-keeping services then you are subject to the Money Laundering Regulations (currently the 2003 regulations, but the 2007 regulations will come into force on 15 December).

There are exceptions where, for example, a company provides book-keeping services for other companies in the same group - but these will not apply in your case.

David
www.MLROsupport.co.uk

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