Share this content
0
2094

HMRC Anti Money Laundering Registration

As an accountant not attached to a professional body, when should I have registered for HMRC AMLS?

Didn't find your answer?

Search AccountingWEB

I've been in practice many years, when should I have first registered with HMRC for Anti Money Laundering Supervision?

Replies

Please login or register to join the discussion.

avatar
13th May 2019 10:55

Think it was by 1 April 2010. Obviously later than that if you started later.

Thanks (0)
avatar
13th May 2019 10:57

I believe the rules came in around 2007 Steve.

Thanks (0)
avatar
to gainsborough
13th May 2019 11:04

I guess I am in a lot of trouble.

Thanks (0)
avatar
to Steve Gilbert
13th May 2019 11:27

I sympathise Steve - so much red tape these days. But better the disclosure comes from you rather than HMRC discovering the late registration first.

EDIT: Don't forget from 2017 you also need a written practice risk assessment and written AML policies and procedures. Some of the main accountancy bodies have templates you can use.

Thanks (1)
avatar
to Wanderer
13th May 2019 11:23

Thanks Wanderer! That refreshed my very rusty memory.

Thanks (0)
13th May 2019 11:34

HMRC should register you when you apply unless you have a criminal conviction which makes you ineligible (see Reg 26 & Sch 3 MLR 2017).
David

Thanks (1)
avatar
to davidwinch
13th May 2019 11:44

Just going through and they asked for a start date, which prompted my question here...

Thanks (0)
to Steve Gilbert
13th May 2019 14:18

Your start date should be consistent with your personal tax returns, obviously!

Thanks (1)
13th May 2019 17:56

How is it possible that you still have active agent codes? Usually those are suspended if there is no supervision in place!

Thanks (0)
avatar
By JoF
to ketteringUK
13th May 2019 18:10

In reality have HMRC ever successfully managed to join those dots?

I think MTD is highlighting this as an issue now though, up to a point.

Thanks (0)
avatar
By SXGuy
to ketteringUK
14th May 2019 09:46

HMRC don't deactivate agent codes, its only when you try to add a new one you come unstuck, as they ask for the AML body and registration number.

If you have agent codes dating back pre 2007, HMRC wont know whether you are supervised with another body or not.

Thanks (1)
avatar
to SXGuy
14th May 2019 14:10

SXGuy wrote:

HMRC don't deactivate agent codes, its only when you try to add a new one you come unstuck, as they ask for the AML body and registration number.

If you have agent codes dating back pre 2007, HMRC wont know whether you are supervised with another body or not.

Ours were deactivated without any prompting by ourselves.

Turned out they had written to us requesting details of our supervision which had lapsed due to the owner not renewing his AAT membership - so our CT and SA codes were deactivated from December 2018 to March 2019 (which was great fun by the way).

Thanks (0)
avatar
By JoF
to 2003bluecat
14th May 2019 14:36

Wonder if AAT informed HMRC of non renewal of MLR in that instance.

Thanks (0)
avatar
14th May 2019 10:10

This is a total farce.There are huge rafts of unlicensed business activities handling and aware of large amounts of cash,who are totally unregistered and unregulated.Equally HMRC know who Agents are yet they are not prompted to check their AML registration requirements.

Thanks (1)
avatar
14th May 2019 10:10

This is a total farce.There are huge rafts of unlicensed business activities handling and aware of large amounts of cash,who are totally unregistered and unregulated.Equally HMRC know who Agents are yet they are not prompted to check their AML registration requirements.

Thanks (0)
avatar
By trishab
15th May 2019 17:27

Steve says has been working unregistered . Does anybody know what the penalties are for this ???

Thanks (0)
avatar
15th May 2019 17:14

Having been in practice for some 13 years and registered with HMRC I recently had to apply for HMRC to carry out AML checks on myself in order to go through the process of getting fully compliant for MTD submissions.

Despite their website saying that a decision would be made within 45 days of the application it actually took nearer 60.

The only way to correspond with them was by sending an email AFTER the end of the 45 day waiting period which in itself was given a turnaround time by HMRC of 15 days. When I did finally receive a reply I was told that the 45 day waiting period should be ignored as decisions were never made within that time-frame.

Thanks (0)
avatar
to mjstarkey
15th May 2019 17:40

You were lucky (60 days)... 6 months is nearer the norm!

Thanks (0)
Share this content