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The Revenue plans to raise the supervision fees charged to firms under anti-money laundering regulations.
The tax department has launched an informal consultation on the structure of the levies, which was set in 2010 to include a registration and renewal payment of £110 for each premises, and a £50 fit-and-proper test fee per director, beneficial owner, nominated officer and other person exercising effective control of the business.
The Revenue plans to raise the supervision fees charged to firms under anti-money laundering regulations.
The tax department has launched an informal consultation on the structure of the levies, which was set in 2010 to include a registration and renewal payment of £110 for each premises, and a £50 fit-and-proper test fee per director, beneficial owner, nominated officer and other person exercising effective control of the business.
The document Anti-Money Laundering Supervision: HMRC Fees Review sets out three possibilities. The taxman’s preferred option would:
- retain the current per-premises registration levy for new businesses and those renewing in 2015, with an increase of £5 for 2016/17;
- introduce a non‐refundable, one-time processing charge of £100 for firms registering for the first time;
- increase the price of the fit-and-proper test from £50 to £100; and
- remove the transitional cap on the fee payable by estate agency businesses with more than 20 premises.
Comments must be emailed no later than 21 November or posted to HMRC AMLS, 3C/18, 100 Parliament Street, London SW1A 2BQ.
