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HMRC's MLR 8 Guide concerning the prevention of money laundering and terrorist activity has been amended and is now available.
It been approved by Kitty Ussher, the economic secretary to the Treasury, for the purposes of the Proceeds of Crime Act 2002, the Terrorism Act 2000, the Money Laundering Regulations 2007, and the Transfer of Funds (Information on the Payer) Regulations 2007, which require courts to consider whether such guidance has been followed when deciding whether offences under these laws have been committed.
Accountancy service providers (see here for the Revenue's definition) who are not already registered with an institute, association or similar should be aware that they must be registered with HMRC by 1 January next year.
Links to the relevant guidance, forms, regulations, FAQs, and other details can be found on the Revenue website's dedicated MLR page.
A recent missive sent out by the taxman advised those already in business: 'As far as those required to register with HMRC are concerned: get your application in by 30 September to give us time to process your registration, so you can be on the register by 1 January 2009. If you aren't, you will be trading illegally'.
