High Value Dealers (HVDs)

A HVD is any business prepared to accept high value payments (HVPs). A HVP is a payment of at least €15,000 (or equivalent in any currency) in cash for goods, whether it be in a single transaction or in several instalments. This includes circumstances where your customer deposits cash directly into your bank account.

For an indication of the £ sterling equivalent of €15,000 we recommend you check our Rates of Exchange for Customs and VAT purposes and divide 15,000 by the euro figure stated.

If you are a HVD you need to:

  • put anti-money laundering systems in place so that you can identify and prevent money laundering and report any suspicious activities
  • register with us - failure to register with HM Revenue & Customs before beginning to trade and/or accepting HVPs (of €15,000 or more) will result in a penalty
  • pay an annual fee based on the number of premises through which you accept HVPs
  • report changes during the registration year

Full information about registration can be found in MLR 9: Registration Notice (Money Laundering Regulations 2007) (PDF 1MB).

To help you register you can find our forms with guidance notes explaining how to complete them in our forms section. Please ensure you complete your forms carefully and accurately before signing the declaration. We recommend you check your forms carefully before sending them to us, as any errors or missing information may cause a delay in processing your application.

Help and guidance

We have produced a guide to the prevention of money laundering and terrorist financing which contains information on the anti-money laundering controls you will need to put in place.

Our Money Laundering Regulations 2007 page has some starter guides to help you if you are a new business or would like to know more about the Money Laundering Regulations 2007.