Professional bodies issue advice to members on HMRC AML supervision letters

Professional bodies are providing their members with advice on how to deal with HMRC letters demanding that they provide confirmation of their anti-money laundering (AML) supervision. HMRC’s letter asks the agents to complete and return a form with details of their firm and supervisor. They must also send evidence that they are a member of a professional body and that their membership includes AML supervision.

Many agents in practice are unclear as to how to respond to these letters – yet if a satisfactory response is not sent to HMRC there is no further reminder. As the ICAEW’s Tax Faculty explained: ‘Some months later agent access to online HMRC services would be removed. The agent can still sign into their agent online account but will find that they don’t have access to services (sometimes only some services).’

The CIOT also has concerns about the process. President Peter Rayney said: ‘It...