Money Laundering - registering with HMRC?

Money Laundering - registering with HMRC?

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I have provided professional book-keeping services for several years but am qualified by experience so do not belong to any professional body. Am I correct in thinking that from Dec 15th 2007 I will need to be registered with HMRC to be monitored for ML purposes? I have looked in Accounting Web and on the HMRC website but cannot see any directions of how to do this? Does anyone know how to register and what is involved?

Many thanks for your help
Elouise

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By frauke
03rd Sep 2007 16:59

not all
The list only has those that were included on the date it went before parliament.

Others, like the IAB, were approved since that date.

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By frauke
03rd Sep 2007 12:07

Registering with the HMRC
There is an existing form - which has not been updated yet - which is currently for a Money Service Business or High Value Dealer which costs £95.00 per premises. I think this will eventually be updated - I suspect about a month before the deadline.

It may be worth considering joining a professional body - some may give exemptions for your existing experience - and some now have APL (Accreditation of Prior Learning) schemes which are ideal for QBE.

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By User deleted
03rd Sep 2007 12:32

Recognised ML monitoring professional bodies
Many thanks Frauke. I have been having a look at the professional bodies and their membership requirements. Would it be worth applying to become a member of the Certified Institute of Bookkeepers or would this probably not be appropriate as an ML approved monitoring body? Is there a list of approved nomitoring bodies anywhere? Hope you can help and thank you for your efforts so far.

Elouise

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By frauke
03rd Sep 2007 15:45

Approved body
I do know the IAB is an approved body.

If you can find my e-mail address, send me an e-mail and I may be able to help point you in the right direction.

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By k40911
03rd Sep 2007 16:08

All of the designated professional bodies
are listed in the Money Laundering Regulations 2007 (see pages 42 and 43).

http://www.hm-treasury.gov.uk/media/F/1/money_laundering_regulations2007.pdf

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