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AML Check for client with POA

Do I need to check both parties?

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I have a client for whom the daughter has POA. Under AML do I need to check both parties or just the taxpayer? 

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By SouthCoastAcc
01st Oct 2020 14:47

i was told by icaew to check both

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Replying to SouthCoastAcc:
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By Paul Morton
01st Oct 2020 14:48

Thank you, very much appreciated

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David Winch
By David Winch
01st Oct 2020 17:40

I agree - both.
FWIW I frequently see these arrangements finishing up in the criminal courts where child 1 has the PoA and later child 2 goes to the police with a complaint of fraud / theft / money laundering against child 1.
Then you get into 'Who wears size 5 Nike Trainers, ageing mother or child 1?'.
The moral is, advise child 1 to keep detailed records & receipts.
David

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Replying to davidwinch:
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By Paul Morton
02nd Oct 2020 10:23

Thank you for that advice David. Paul

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By Paul Morton
13th Oct 2020 09:04

For those of you who may be interested, I've just had a reply from HMRC and they have advised that I only need to verify the daughter, not the taxpayer. Interesting!

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