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  • #3951
    Mark LeeMark Lee
    Keymaster

    Happy new year. All tax adviser members should receive full copies of our weekly tax tips – if only so you can see when you are featured in it 😉
    Today’s edition includes an important tip that may be relevant to those advisers who have agent codes. You are probably sufficiently organised to be on top of this, but just in case not, I have copied the tip, written as usual by Rebecca Cave, here:

    Losing the ability to file tax returns on behalf of your clients is exactly what you don’t want in the middle of the self-assessment season. But this could happen to you if you have ignored a letter from HMRC about your anti-money laundering (AML) supervision, or do not reply with the correct evidence.

    HMRC has a program of checking the AML supervision status of tax agents. It writes to the agents directly asking them to confirm that they are a member of a schedule 1 supervisory body (such as ICAEW, CIOT, IFA, ACCA) and whether that membership includes AML supervision. What is new that HMRC now require documentary evidence of the AML supervision by the professional body, but the agent has to provide that evidence.

    The various professional bodies will have different ways of providing this documentation. For example, ICAEW members need to contact amlr@icaew.com for a confirmation letter. The fee invoice that you pay to your professional body detailing the fee for AML supervision should also be sufficient evidence for HMRC.

    If you do not reply to HMRC’s AML letter, you will not receive a reminder or a warning. However, some months later your agent’s code will be suspended. You may be able to sign into your agent’s account with HMRC but you won’t have access to the HMRC services, such as PAYE and self-assessment.

    If this happens you need to get in touch with the compliance team at your professional body who may be able to get your code reactivated by HMRC.

    Accountancy sector guidance for AML supervision – https://www.gov.uk/government/publications/anti-money-laundering-guidance-for-the-accountancy-sector

    #3952
    Andrew CazaletAndrew Cazalet
    Participant

    Thanks Mark that is helpful

    Do you / Rebecca know if that is normally by letter or email? if email from which email address? HMRC emails tend to go to spam after all.

    All the Best Andrew

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