Advice for ASPs

KEY POINTS

• The registration deadline has passed.
• Reminder of the compliance requirements.
• COP 28 and selection for inspection.
• The inspection process.
• Information on HMRC's website.

The final requirement for compliance with the Money Laundering Regulations SI 2007 No 2157 (MLR 2007) comes into effect on 1 January 2009 and all ASPs or 'accountancy service providers' (i.e. accountants auditors bookkeepers payroll bureau and tax advisers) are required to be supervised from that date.

Some firms will be supervised by their membership organisation but the majority will have applied to HMRC for supervision — and the deadline for submitting an application was 30 September 2008.

Important note: if your firm is required to register with HMRC and you have not yet applied then you are advised to do so immediately.

HMRC...