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AML - loan becomes a dividend - should you report?

Budget day tomorrow... loan made to shareholder today, renamed a dividend if tax changes come about.

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Budget day tomorrow... loan made to shareholder today, renamed a dividend if negative tax changes come about with effect from tomorrow... tax loss to the Exchequer... thoughts on AML reporting obligations?

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By frankfx
02nd Mar 2021 13:54

Renamed?
After the initial book entry.

Board minute.... loan to shareholder.

Oh, not done.

What about other shareholders,if any.

Fraud, intent to deceive for gain.

Economical with the actuality.

How would you formally note the transaction?
And the discussions leading up to your post on this forum.

Disengagement letter prepared if you were invited to apply digital tippex?

Does the software have an audit trail, beyond reach of an eraser?

Why has the client invited you into his conspiracy?

Even if the budget measures do not hit until April, client has concocted a cunning plan, requiring your cooperation it would seem.

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By Truthsayer
02nd Mar 2021 16:40

That's nothing. Most accountants will happily do something like that. I don't see it as an AML matter.

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By andrew1211
03rd Mar 2021 10:37

Any negative tax impacts will not apply immediately.....

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