CCAB anti-money laundering guidance
Guidance for those providing tax services in the United Kingdom, on the prevention of money laundering and the countering of terrorist financing.
Money laundering
Expert commentary and practical guidance from ICAEW related to money laundering and ensuring compliance with UK tax regime.
Need to know
In this section
Practical guidance
ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax
Professional conduct in relation to taxation (PCRT)
PCRT sets out the principles and standards of behaviour that all members, affiliates and students must follow in their tax work.
Features and articles
Professional Standards Update Jan 2024
This month we highlight updates to our FAQs for firms regarding CPD changes, remind you about our consultation on proposed changes to the ICAEW Code of Ethics and highlight other recent updates and resources you should be aware of, categorised by regulated area. We also share a summary of disciplinary case hearings that took place in November and December.
International developments: professional standards in tax and administering VAT
Nick Parker reports on developments shared at a two-day conference in Helsinki, hosted by CFE Tax Advisers Europe.
Two registers to watch out for
As we all know by now, the Trust Registration Service was set up in 2017, as part of a worldwide drive to reduce money laundering. Although this was done as part of a European initiative, it was agreed as part of the Brexit Withdrawal Agreement that this would be maintained in future. However, another register has been introduced with very little notice or publicity.
Regulation of the tax profession – is it the way forward?
Frank Haskew reviews the background to the UK debate on regulation of the tax profession.
Registration for non-taxable trusts
Senior Technical Manager Caroline Miskin explains the fast-approaching deadline to register non-taxpaying trusts that existed on 6 October 2020.
Is your accounting firm registered for money laundering supervision?
ICAEW’s Tax Faculty explains the various bodies that may be supervising the firm.
Watch out for HMRC letters about AML supervision
Some members are being caught out by letters from HMRC regarding anti-money laundering supervision. ICAEW’s Tax Faculty explains the process.
Pandora Papers show importance of knowing your customer
Well-publicised information about the affairs of high net worth individuals draw attention to the importance of due diligence.
Representations
ICAEW REP 021-24 Transparency of land ownership involving trusts
A representation dated 23 February 2024 to a consultation published by the Department for Levelling Up, Housing and Communities (DLUHC), on behalf of and jointly with His Majesty’s Treasury (HMT), His Majesty’s Revenue and Customs (HMRC) and the Department for Business and Trade (DBT) on 27 December 2023.
ICAEW REP 015-24 DP 234 Regulating Cryptoassets - phase 1 Stablecoins
A representation dated 5 February 2024 to a consultation published by the Financial Conduct Authority on 6 November 2023.
ICAEW REP 011-24 Smarter Regulation - The Regulatory Landscape
A representation dated 17 January 2024 to a call for evidence published by the Department for Business and Trade on 17 October 2023.
ICAEW REP 010-24 ISA (UK) 250 (Revised) and ISA (UK) 2X0
A representation dated 12 January 2024 to a consultation published by the FRC on 18 October 2023.