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Post Info TOPIC: Question about fees for registering with HMRC for MLR
Wisteria23


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Question about fees for registering with HMRC for MLR
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Hi all,

I need to register with HMRC for MLR but find it quite confusing how much I need to pay them. 

It says that from April 1st 2015 these are the charges:

- "Application charge for registering for anti-money laundering supervision (new customers)" of £100

- "Premises fee (new customers)" of £110

- "Fit and proper test" currently £50 but will be £100 from April 1st.

So my questions are:

1. I am a self-employed bookkeeper, not registered with a body, do I need to do the Fit and proper test?
2. Do I need to pay application charge as well as premises fee, ie £210, or only the application charge £100?

I have been googling and looking on HMRC's website but it hasn't made me any wiser so would much appreciate your comments as I certainly don't want to pay them anymore then I have to.

Many thanks for your help!

Carin

 



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Kinbuck


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Hi Carin

You'll be registering as an Accountancy Service Provider (ASP) so you don't need to do the 'fit and proper test'.  I registered in January and the cost was only the £110, which is quite enough thank you!  I have seen that they are bringing in a new registration cost on top of the £110 so it would be £210 for new applications.  Can you not get your application sent off now and avoid the extra £100 fee?  

Regards

Janet



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Janet

They keep making the system idiot proof but then make bigger and better idiots!
Wisteria23


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Thank you Janet!
Will do today.

Carin

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Alys


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This is a useful thread - I haven't signed up yet for MLRO as I don't have any clients but will do now before Tuesday to avoid the additional cost - thanks.

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Alys

Alys Stuart, Stuart Nicholls Accountancy Services, Preston, Lancashire.
wellbalanced


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Sorry to be dim... MLR?


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Shamus


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Money Laundering regulations.

If you are not covered you risk an unlimited fine and substantial jail term under legislation tyre levered in on the back of anti terrorism measures.

You can be covered either via your professional body if you have a practice certificate from them or from HMRC is you do not.

HTH,

Shaun.

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
wellbalanced


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Ah ok! Thank goodness for that - thought it was more expense I'd missed! :) I'm applying for my practicing certificate from CIMA and pretty sure that covers it :)

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