New client comes in and has not submitted vat returns and self assessments for last 6 years. Hmrc are aware. He wants to get everything up to date. What ML implications are there if any?
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ID & PoCA privilege
You need to obtain the usual ID verification. All the usual MLR 2007 requirements apply.
If yourself or your firm fit the criteria of s330(14) PoCA 2002 then 'PoCA privilege' is going to apply & no Suspicious Activity Report should be made.
David
Amended legislation
Just had a look at legislation there is no section 14 within s330. It states that a professional legal adviser and the information or other matter came to him in privileged circumstances; does an accountant fall within this?
Try HERE.
David
Changes not yet updated by legislation.gov editorial team
s330 (14) not yet amended
- (14) A relevant professional adviser is an accountant, auditor or tax adviser who is a member of a professional body which is established for accountants, auditors or tax advisers (as the case may be) and which makes provision for—
(a)testing the competence of those seeking admission to membership of such a body as a condition for such admission; and
(b)imposing and maintaining professional and ethical standards for its members, as well as imposing sanctions for non-compliance with those standards
Edit: Too slow again!
Legislation on the web
It is a great pity IMHO that there is no source of up to date UK legislation on the web (for free).
Some legislation has been amended so many times it is hopeless to find the current version on the web - examples include Taxes Management Act 1970, Social Security Administration Act 1992 . . .
David
That is exactly
It is a great pity IMHO that there is no source of up to date UK legislation on the web (for free).
Some legislation has been amended so many times it is hopeless to find the current version on the web - examples include Taxes Management Act 1970, Social Security Administration Act 1992 . . .
David
That is exactly the issue I find when using the website - it's better than nothing though I guess!