Forming companies? The Money Laundering Regulations affect you.

Posted by AccountingWEB PM | on Tue, 29/04/2008 - 17:43 4077 2 comments

Trust or Company Service Providers (TCSPs) who are not members of the list of approved professional bodies must to apply to HMRC to register as a TCSP without penalty until 31 May 2008.

The business will need to register with HMRC and set up anti-money laundering controls.

Continued...

International Association of Book-keepers

davidwinch | Tue, 29/04/2008 - 14:57 | Permalink

The International Association of Book-keepers were added to the list with effect from 15 December 2007 by SI No 3299 of 2007.

Note that it is arguable that if one acts as a registered office or correspondence address for clients but do not charge for this then it is not done "by way of business". Just a thought . . . .

David

Enforcement

frauke | Tue, 29/04/2008 - 12:01 | Permalink

Does anyone know how the HMRC are going to check if someone is registered or supervised?

I have spoke with quite a few people who are not registered with any body, some have been in business for many years, and a few talking about setting up a new business. I keep getting the same response - they nothing about any of this, and as they have not received any correspondence from the HMRC etc........ it does not effect them!