How to register with HM Revenue & Customs (HMRC) – Money Laundering Regulations 2007

The following information relates to businesses needing to register with HMRC under the Money Laundering Regulations 2007.

Our registration summary has the latest information about when businesses need to register with us.

Contents

Q. Do I need to register with HMRC?

A. HMRC is responsible for supervising:

We recommend you check our MLR9 Registration Notice (PDF 1MB) to see if you need to register and apply anti-money laundering controls to your business.

Q. What must I do?

A. You need to:

  • put anti-money laundering systems in place so that you can identify and prevent money laundering and report any suspicious activity
  • register with us
  • pay an annual fee based on the number of premises through which you trade
  • report changes during the registration year
  • If your business is a TCSP or MSB, any person who runs or owns the business, and your nominated officer or money laundering reporting officer, will need to apply for a new fit and proper test

We recommend you read:

Q. How do I register?

A. We have issued a registration summary to help new and existing businesses know when they need to register with HMRC and what forms need to be completed and sent to us.

The forms that you will need to register are available in our forms section along with guidance notes to help you complete the forms and details of where to send them.

Q. How much is it to register?

A. The fee to register with HMRC for the period 1 June 2008 to 31 May 2009 is £95 per premises.

Q. What is the fit and proper test?

A. A fit and proper test will be applied to Nominated Officers (Money Laundering Reporting Officers) and those who effectively run, or are beneficial owners, of a money service business or a trust or company service provider.

The fit and proper test will check individuals against a number of objective criteria set out in the new Money Laundering Regulations. Our intention is to prevent high risk individuals from directing or controlling MSBs and TCSPs or acting as Nominated Officer for them. We will perform these checks at registration using an array of internal and external information sources. If any of these criteria are met, they will fail the test and we will have to refuse the registration application.

Q. Do I have to apply for a fit and proper test?

A. The fit and proper test will be applied to all money service businesses and trust or company service providers, at the time of registration, in respect of:

  • the applicant
  • a person who effectively directs or will direct the business
  • a beneficial owner of the business
  • the nominated officer of the applicant

In practice, this means all sole proprietors, partners, directors and nominated officers will need to be tested, as will certain shareholders.

Q. How do I apply for a fit and proper test?

A. If your business is a MSB or TCSP then those applicants that need to apply for a fit and proper test will need to:

  • Ensure that each applicant completes form MLR 101 (PDF 243K). Guidance notes (PDF 106K) are available to help you.
  • Each applicant will need to sign their form, and you will then need to return them with your registration application and the appropriate fee(s).
  • It is a criminal offence to make a false statement in order to register. Applicants will not be registered if the information provided is found to be false or misleading.

Q. How much is a fit and proper test?

A. There is a one off fee for each applicant, payable at the time of registration. The current fee is £50.

Q. What do I need to do if information on my registration or fit and proper test application changes?

A. If you become aware of any changes to the information provided in your registration or fit and proper test application you must notify us within 30 days of the change.

Q. How do I get the forms I need?

A. Our forms and the guidance notes you need to complete them are available on our forms section.

We also recommend you read: