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TAXguide 12/19: supplementary anti-money-laundering guidance for tax practitioners

Guidance for those providing tax services in the United Kingdom, on the prevention of money laundering and the countering of terrorist financing.

This Guidance is issued by

  • Chartered Institute of Taxation
  • Association of Taxation Technicians
  • Institute of Chartered Accountants in England and Wales
  • Association of Chartered Certified Accountants
  • Institute of Chartered Accountants of Scotland and
  • HM Revenue and Customs

as a supplement to ‘Anti Money Laundering Guidance for the Accountancy Sector’ published by the Consultative Committee of Accountancy Bodies (CCAB).

TAXguide 12/19

This guidance can be downloaded in full.

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Overview

This supplementary guidance is not standalone guidance; it must be read in conjunction with the CCAB’s Anti Money Laundering Guidance for the Accountancy Sector (AMLGAS). It focuses on tax specific issues.

This guidance was approved by HM Treasury on 14 June 2019. Because HM Treasury has approved this guidance, the UK Courts must take account of its contents in deciding whether a business or individual subject to it has committed an offence under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 or ss330-331 of the Proceeds of Crime Act 2002.

This guidance is not intended to be exhaustive. If in doubt, seek appropriate advice or consult your anti money laundering supervisory authority. If an anti-money laundering supervisory authority is called upon to judge whether a business has complied with its general ethical or regulatory requirements, it is likely to be influenced by whether or not the business has applied the provisions of this guidance.