News story: HMRC anti-money laundering supervision goes online


via GOV.UK departments and policy – all updates http://bit.ly/2hpkqkm

Would you like a free copy of the latest FATCA, CRS and CDOT rule map?

New in this version:

Latest updates and changes, for example, on the new requirement to issue Client Notifications on or before 31st August 2017

Hyperlinks and QR codes for every citation. This means you can go immediately to any citation with one click

If you would like a free copy email me at: haydon@haydonperryman.com and put “Rule Map” in the subject line.

_________________________________________

In 2017 HMRC is introducing an online, digital system for anti-money laundering supervision. When it launches, businesses will be able to register and renew online.

The online system will:

  • allow all registrations, renewals, updates and payments to be made online
  • reduce errors and ‘rejected’ applications – these will be flagged instantly by the new system, avoiding forms being returned for re-submission
  • better meet customer needs – this has been possible through asking businesses to test the system and tell us how they think it should work.

Currently we ask businesses registering for the first time to complete their form online, print it off and post it to us. Businesses renewing their registration are sent a letter and asked to respond by post. We know that this causes delays.

A selection of customers have been helping us develop the system over the last year. We’re still asking customers to use the system and provide feedback, helping us refine it further.

Using the system for the first time will involve a one-off completion of your details.

This is the same if you are already registered with HMRC or if you are registering with us for the first time. Don’t worry if you don’t have everything to hand as you’ll be able to save your entries and come back to them for up to 28 days.

When you come to renew a year later, your details will be stored and the process will be quick, easy and completely paperless.

We’ll be communicating with customers when the system is ready to launch.

To use the new system you’ll need an online ID. If you don’t have an ID, you can register at Government Gateway online.