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Has anybody else complained about the AMLS fee?

AMLS fee

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I'm a sole trader offering bookeeping services, a very small business...just had a shock renewing the AMLS registration today as the fee is gone up to £300. I'd like to know if anybody else feels like this is a rip off? Has anyone tried to complain about it already?

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By Tim Vane
01st Sep 2019 10:51

A rip off? Hardly. HMRC are required by statute to ensure that the fee does not exceed the cost of running the service. As they had not changed the fee for 10 years they were running at a significant loss and so I think the price increase is fair enough.

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By NH
01st Sep 2019 12:16

I would be interested to know how it costs them £300. How much do the professional bodies charge for the same thing?

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By 356B
01st Sep 2019 12:34

Professional bodies don't charge for AML supervision, it's included in the membership fee.

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By NH
01st Sep 2019 12:59

I think you will find that they do albeit included in fees, I remember my fees going up when AML supervision came in, but it is certainly nowhere near £300 which was my point!

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By JoF
01st Sep 2019 13:24

NH said ''I think you will find that they do albeit included in fees''

Isnt that what 365B said?!

To the OP - maybe look to go back to your prof body.

How small is your business? There is a rate reduction under £5k turnover (although why anyone would get out of bed for such small earnings is anyone's guess)

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By NH
01st Sep 2019 13:20

You have missed the point - the OP asked whether £300 is too much, my question is how can they justify £300 when the PBs charge much less. Maybe they can justify it?

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By JoF
01st Sep 2019 13:27

No I didnt miss the point. I just chose not to answer that part.

Ive edited my response above though as I got you and the OP mixed up.

Not sure how you expect someone on here to justify the cost of £300 above what Tim suggested. Maybe you could try a freedom of info request so get to the reasons and actual cost v what is being charged?

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By legerman
01st Sep 2019 13:43

NH wrote:

I would be interested to know how it costs them £300. How much do the professional bodies charge for the same thing?

HMRC have estimated it costs them £18-20 million to run the AML service, partly because they have taken extra staff to properly supervise and partly because they they have increased responsibilities under the 2017 regs.

Whilst the cost has taken a massive leap, it should work out less than £10 a client for all but the most small businesses.

That said, I'm still waiting for my renewal from 29th March. There was a error which I corrected in May, and despite them telling me it wouldn't reset the clock, it looks like it has.

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By Sparkly
03rd Sep 2019 10:45

I paid £170 for AML supervision to ATT a few months ago on top of Annual Membership fee of £200

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By legerman
01st Sep 2019 14:10

Tim Vane wrote:

A rip off? Hardly. HMRC are required by statute to ensure that the fee does not exceed the cost of running the service. As they had not changed the fee for 10 years they were running at a significant loss and so I think the price increase is fair enough.

It's gone up twice since then hasn't it? I remember it going from £100 to £110 then £130 3/4 years ago? I accept that HMRC are relaying the true cost of running the service, but I think that has mainly come from the increase of staff after trying to run it on a shoestring and being hauled over the coals for not supervising it sufficiently.

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By CH bookkeeping
01st Sep 2019 13:51

"Fair enough", but that's a more than double last year's fee...

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