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Tips & Advice You & Your Business - HMRC to charge fees for issuing penalties
HMRC to charge fees for issuing penalties..Administration. If your business is registered under the Money Laundering Regulations 2017 there’s now another financial incentive for complying with the rules. HMRC, which polices the Regulations, has introduced an administration charge which will be added to penalties issued on or after 25 July 2018. It says that “The charge is for costs of issuing penalties to businesses” . Cost of HMRC’s admin. The new charge, which in effect is an extra penalty by the back...Click here -
600+ Business Solutions - Can you be put in the dock for a customer’s crime?
The Criminal Finances Act 2017 takes effect in September. It includes a new offence of assisting others, even unwittingly, in tax evasion. Businesses face tough fines if they fail to prevent it. What steps can you take to protect your business?Click here -
600+ Business Solutions - Money laundering changes
Some time in 2017 HMRC is amending its money laundering register and renewal processes. How will this affect your obligations?Click here -
Tips & Advice You & Your Business - Money laundering and mixed supplies
You’re supplying and installing equipment for a customer who wants to pay you in cash. You know that the Money Laundering Regulations (MLR) can apply in this situation, but what’s the position where part of the bill is for installation services?Click here -
Tips & Advice You & Your Business - Tighter money laundering rules
The EU’s money laundering directive will mean more checks will need to be made on customers. When and how might these rules apply to your business?Click here -
Tips & Advice You & Your Business - When can cash deals land you in trouble?
One of our subscribers is often paid in cash by customers and is sometimes asked to pay suppliers the same way. Naturally, the money goes through the books, but is this enough to meet the Money Laundering Regulations (MLR)?Click here -
Tips & Advice You & Your Business - More news on potential penalties
More news on potential penalties.. Belated advice. We recently reported that a new round of Money Laundering Regulations (MLR) checks were underway ( yr.14, iss.17, pg. 1 , see The next step ). Now, somewhat belatedly in our view, new official guidance has been issued on how you can help protect yourself against MLR penalties and what your options are if you’re faced with one (see The next step ). Tip. According to HMRC, which is one of the organisations involved in policing the MLRs, you can reduce...Click here -
Tips & Advice You & Your Business - Money laundering checks on the way
HMRC has begun a campaign of money laundering checks. It will start with a simple phone call, but might follow this up with a visit. What’s the full story?Click here -
Tips & Advice You & Your Business - More laundering
More businesses must now register under the Money Laundering Regulations. There can be fines or worse for directors breaching the rules. What’s the story?Click here
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