Share this content
8

AML Supervision

Didn't find your answer?

I am a member of ACCA but am about 6 months off from getting my practice certificate so cannot be regulated by them for AML.  I am about to set up on my own alongside my current job but will just do bookkeeping to begin with as I don't have a practice certificate.  I will therefore register with HMRC for AML for my self employment.  I have read that HMRC will not supervise accountancy service providers who are already members of an approved body but although I am a member of ACCA I do not have the practice certificate.  Will HMRC refuse my application or see the difference between being a member and a member with a practice certificate? 

Replies (8)

Please login or register to join the discussion.

By djn24
18th Nov 2019 16:39

Why not just wait 6 months and get the PC from ACCA? That will just save so much time and hassle.

Thanks (0)
Replying to djn24:
avatar
By michjimblack
18th Nov 2019 17:12

Various reasons but really just after an answer to my question

Thanks (0)
avatar
By vfilipova
20th Nov 2019 09:38

I used to be supervised by HMRC back in 2013 which was my first year of trading as a self-employed accountant. I was regulated by AAT and their member at that time but HMRC did not refuse to supervise me. However 2 years later I decided to use AAT , simply they offered a reduced price for AML
Hope that helps

Thanks (0)
avatar
By tracey2412
26th Nov 2019 10:08

I'm 'just' a bookkeeper with no membership of any industry organisation & picked HMRC as the supervising body. Pay my £300 (yes, it hurts) & get on with it. Don't know if that helps at all? Goodluck with your new business.

Thanks (0)
All Paul Accountants in Leeds
By paulinleeds
26th Nov 2019 16:45

Back in 2010, as an FCCA, with no practising certificate and doing payroll and bookkeeping, I registered with HMRC for AML.

I never mentioned my FCCA qualification. Why would you mention it if it is not relevant?

Now with a practising certificate I use ACCA.

I'd register with HMRC and not mention ACCA.

I would not want to risk not registering with HMRC, even for 6 months!

Thanks (0)
Replying to paulinleeds:
avatar
By djn
26th Nov 2019 20:57

Is your PC with ACCA now?

Thanks (0)
Replying to djn:
All Paul Accountants in Leeds
By paulinleeds
03rd Dec 2019 18:21

Yes

Thanks (0)
avatar
By AustinA
26th Nov 2019 18:13

Hi - I am a member of ICAEW and before I had my practising certificate, HMRC supervised me. I have transferred over since as the ICAEW are cheaper and more helpful.

Thanks (0)
Share this content

Related posts