I am a member of the ICB and they sent out a very informative pack about MLR with due dilligence forms etc... I have been following through all the paperwork etc.. and trying to get things in order from my clients, but I am unsure whether I am doing things correctly.
I wanted to go on an MLR course, the ICB dont seem to be doing anymore and their latest CPD courses were cancelled due to lack of interest.
I just need to know exactly what I am doing and that it is correct..... MLR seems a scarey thing for us bookkeepers at the moment.
If anyone could point me in the right direction, or give me some kind of list that they have established to make sure they have all documentation recorded for their clients.
Even on the due dilligence forms I am slightly unsure how to assess my clients ? its ok to have a huge folder full of info thrown at you but you need to understand it all.... hmmmm
Im sure I am not the only one who feels like this.
I think the best thing is to contact the ICB and go through with them the areas that you need help or clarification with. They should have people there to help you with this as I'm sure this service is covered by the fees you pay them for membership etc. The fact that HMRC are targeting bookkeepers with MLR compliance, with prosecution and severe penalties for non compliance, does make it scarey for self employed bookkeepers and I agree with you that it is best to keep yourself right.
