Licensed members could face suspension as agents if they fail to provide AML information
Some licensed members are being caught out by letters from HMRC asking for confirmation of their anti-money laundering supervision (AML).
HMRC has begun the process of writing to agents to confirm who supervises them for anti-money laundering (AML) regulation purposes. The letter includes a questionnaire to be completed and returned to HMRC and must be accompanied by documentary evidence of your AML supervision.
If AAT is your firm’s registered supervisory authority then you should provide HMRC with your AAT number together with a copy of your practising certificate and licence approval or renewal letter (for the current renewal period) that confirms AAT is supervising you.
While this information should satisfy their request, please do contact us if you are having any difficulty with this process or you are unable to locate your paperwork.
The impact of ignoring or failure to provide a satisfactory response to the HMRC letter is stark and may result in the suspension of access to your HMRC online agent services.
Loss of access to your agent portal means your day-to-day activities and interactions with HMRC on behalf of clients are massively compromised. Members will be unable to file any returns on behalf of their clients until the codes have been re-instated which can take five working days or more.
AAT therefore encourages members to reply promptly to this information request.
Jackson Quaker is AAT's Professional Standards Policy Development Manager.