Staying up late to study? 7 tips to help you switch off and get a good night’s sleep

Cramming late into the night with coffee, energy drinks or sugary treats to keep you going and a sense of fear, panic and adrenaline coursing through your veins.

Most of us have been there the night before a deadline or an exam.

I know I have, on numerous occasions. But don’t worry I’m not going to tell you to plan better or make better use of your time.

1. Because its pointless. You’re likely reading this because you’re already cramming… so it’s too late for hindsight and kicking yourself for not getting on with it earlier. What’s done is done.

and

2. Because some people thrive on the energy and adrenaline of working close to deadlines.

I am one of those people.

Sometimes I wish I wasn’t. But I’ve come to realise through years of school, college and uni, plus additional qualifications and certifications, that it is actually when I do my best work. I thrive on a tight deadline. It forces me into clarity and stops me overanalysing my work.

But, as much as I’m not here to tell you to study sooner, I will say that it will have a negative impact on your sleep, and therefore your energy.

So if you’re staying up late to study, here’s how to switch off and get a good night’s sleep:

1. Let go of what youll feel like tomorrow

It’s tempting to worry about how tired you’ll feel tomorrow and beat yourself up for staying up late.

We’re adaptable to different sleep patterns and can cope with reduced sleep in the short term. So, release the worry of how you’ll feel when you wake up, and remind yourself that’ll you be just fine.

2. Screens off

The blue light emitted from laptops, phones and TVs will keep you wired and although I used to fall asleep to the TV a lot when I was at uni, I wouldn’t recommend it.

Try and switch all your screens off and even turn your phone off once you’ve set an alarm. It helps create a definite break between work, and rest and your brain won’t be affected by the light.

3. Fresh air

Your room can get stuffy whilst you’re studying, so either open the window and let the temperature drop a little or go for a little walk outside.

The fresh air will clear your head and your body will drift off quicker if your environment is cooler.

4. 10 minutes quiet time

Shutting up your books, then jumping under the covers immediately may not be the best approach to getting some decent shut eye.

Chill your mind by listening to peaceful music, meditating or reading something non-study related.

Just 10 minutes will help you detach from revision mode.

5. The right light 

As with turning off screens, your lighting can affect your sleep. Scientists who study sleep patterns suggest dimming the lights 15 minutes before sleep and then aiming for as dark an environment as possible, with as few distractions (ticking noises, little LED lights on devices etc) as possible.

6. Plan your timing right

Have you heard of the 90 minute sleep cycle? It’s the average length of a cycle within your sleeping period.

It’s suggested that if you wake up mid-cycle you’re much more likely to be in deep sleep and struggle with getting up and feeling refreshed.

Try to work your way backwards from your desired waking time in 90 minute chunks – this will give you the optimum bedtime. E.g – want to wake up at 7:30am and it’s 11:30pm now? Try aiming to nod off around midnight and you’ll have 7 cycles and should wake up more refreshed.

7. An alternative to counting sheep 

Counting sheep has never worked for me. I just get bored and frustrated with the whole concept.

What I do find useful is focusing my attention inwards whilst I lie in bed. I notice the way the duvet feels on my skin, the softness of the pillow, the sound of my breathing. By noticing and focusing on my immediate environment and my body, I find I drift off naturally in no time.

Are you cramming for an exam or staying up late to study? Which ideas will you be using to get a better night’s sleep?

Further reading

Browse the full range of AAT study support resources here

AI focus: how artificial intelligence can help accounting students thrive

As use of artificial intelligence (AI) becomes more commonplace, it’s vital to understand how to get the best out of it while you study.

Whether working in industry or practice, more and more accountants and finance learners are using AI technology to save time, reduce the likelihood of errors and provide real-time financial insights by analysing huge swathes of data at the push of a button.

It goes without saying, however, that AI tools are only as good as the data they are given to work with; if there are mistakes in the underlying data provided then the AI analysis of that data will inevitably be wrong too.

As ChatGPT says: “The more specific you are, the better the AI can tailor its response to your needs. A vague request will likely result in a broad and possibly less useful answer.”

Tips for AI success

Here are five top tips on how to harness the power of AI tools and make them work for you by asking suitable and effective prompts:

  1. Be clear and specific: The more detail you can give AI tools regarding the outcome you are seeking, the more closely the result of its analysis is likely to fit your requirements.
  2. Use context or background information: explaining why you want the information can help AI to give suggestions that are relevant to your situation.
  3. Request specific formats: if you want a series of five bullet points for a presentation then say so. Asking for examples is also a useful tip.
  4. Refine your prompts if necessary: you can ask for clarification in a follow-up question if required.
  5. Provide constraints or limits: if you need to explain a concept without using financial jargon, specify this in your request.

AI increases speed, but always be accurate

Accuracy is essential in accounting as even tiny mistakes can have huge consequences. That’s even more true when you harness the power of AI tools to forecast financial outcomes or flag issues such as fraudulent activity.

Accountants are used to preparing highly accurate datasets, so in this way they are well placed to make good use of AI tools.

However, many AI tools require substantial amounts of data to provide a useful solution. If they don’t have enough, they simply can’t perform the mathematical calculations required to produce an outcome.

Some AI tools also need external as well as internal data to do the job, which is not always possible to access at an appropriate cost.

Last, but certainly not least, when using AI-generated concepts and solutions, it’s also vital to check the results against your own interpretations – just to be sure.

Further reading

Top tips for enhancing your studies while working from home

Lee Jones of Premier Training, AAT’s Distance Learning Provider of the Year 2024, explains how learners can maximise their studies while working from home.

If you are studying from home, you will need to have self-discipline and good time management to be successful.

Students need to follow a study schedule and be able to prioritise tasks to progress through their coursework and ensure they are fully prepared for their assessments, says Lee.

Every student is different and has their own strengths, but a common denominator with the most successful students is the ability to stay motivated. Setting clear objectives is at the heart of this, to ensure students remain inspired to reach their study or career goals.

Enhancing your home studies

Students need to be utilising all available resources and hold themselves accountable to make a success of their time at home. For example:

  • Use all available resources: Books, e-books, videos, webinars etc. are brilliant tools where you can mix and match to reinforce your learning.
  • Ask questions: Be sure to ask questions and use your tutor’s expertise. They are there for a reason, so tap into it.
  • Set clear goals: Flexibility is great but having deadlines and targets ensures you keep moving forward.

How to improve time management

Most students have only five or six hours a week to dedicate to their studies. That means you will need to be focused. Here’s how to make the most of your time:

  • Eliminate distractions: Find a dedicated study space that helps you focus.
  • Break tasks into bite-sized pieces: Micro goals make large topics feel more manageable.
  • Find a study rhythm that works for you: Whether it’s an hour each evening or a full study session on Sundays, consistency is key.

Tools and resources for success

Online timetables help to set clear but flexible deadlines and ensure that course advisers and tutors can quickly identify if students aren’t progressing.

Our learning resources reflect that, with videos, infographics and slide presentations for visual learners, and e-books and written assignments.

AAT has also created hundreds of hours of free live lessons and webinars – an additional resource that makes a real difference when students are struggling with a specific topic or unit.

Always set boundaries with family and friends to minimise interruptions, and to limit digital distractions – for instance, turn the television off and put your mobile phone out of reach.

Make the most of the emotional and practical support available from family, friends, peer groups and tutors.

Further reading

AAT success stories: from student to business owner  

Severn Accounting founder Ali Jaw FMAAT credits the technical skills and support he has gained from AAT for much of his success in the finance world.


Ali Jaw at a glance…

Born: The Gambia
Years in accounting: 26
Name of employer: Severn Accounting
Top tip for students: It’s so important to put in the effort during your studies and to keep going even if you fail an exam or get rejected by an employer, for example. The future is very bright if you persevere.


Landing his first accounting job

Ali Jaw started studying with AAT in 1999 as he had a passion for numbers and wanted to become an accountant.

It wasn’t long before Jaw started to put his studies to good use, by taking on an accounting job at a local hotel. Taking this job also turned out to be a pivotal moment in Jaw’s life, as it was while working at the hotel that he met two friends from Bristol, Martin and Lorraine, who persuaded him to move to the UK to continue his studies.

When his mum sadly passed away, Ali decided it was the right time to take the pair up on their offer and moved to the UK to continue his accountancy dream, but it wasn’t all plain sailing.

Juggling work and studies

“Martin and Lorraine are still like family to me today,” says Jaw, who now lives in Worcester with his wife and children.

“But shortly after I came to the UK, their business hit financial problems, and I no longer felt comfortable relying on them for a place to live.

“I moved to Birmingham to live with a friend and took on a job as a security guard at the Bull Ring building site to make money.

“I worked at night and went to college during the day. It was really tough but I was raised to work for what you want, so I managed to keep doing that until I completed my AAT qualifications.”

He also went on to do an ACCA qualification and got a bachelor’s degree in accounting from Oxford Brookes University, studying online at the same time as working.

Setting up his own business

After volunteering in finance to gain on-the-job experience, it was in 2013 that Jaw set up his own business with a friend, Severn Accounting. “I met people at AAT events who inspired me to set up in practice with a friend,” he says. “It was very successful, but after several good years we decided to each do our own thing, which is when I started running my own practice.

It was down to his hard work and perseverance that helped Ali Jaw overcome adversity to achieve his dream.

He added: “Once you have your AAT qualifications, the world is your oyster. They open so many doors and are a great starting point, whatever you want to be in business – accountant, business owner or entrepreneur.”

Find your dream role

AAT’s Career’s Hub has an extensive live list of opportunities within the accounting and finance industry.

Click here to start your journey

Evidence-based revision tips that work

Studying efficiently and effectively is something that everyone wishes they could do, but few people master. Our learning is focused on the information we need to get our qualifications.

Still, few of us learn how best to study, and it’s been shown that the ways we intuitively think will help us, like re-reading and re-writing notes, can often actually be counter-productive. So what is the best way we can revise for exams?

How do you learn?

Firstly, think about how you best learn. The three main types of learners are:

  1. Visual
  2. Auditory
  3. Kinesthetic

Visual learners will understand more by sight – by reading, taking notes, and looking at pictures or diagrams. Auditory learners will do better hearing things and using conversations and discussions to learn. Kinesthetic learners remember by doing and will do better to engage in an activity as well as seeing and hearing.

Consider your process

Don’t jump right into studying; carefully consider your process first.

“Give me six hours to chop down a tree, and I will spend the first four sharpening the axe.”

 – Abraham Lincoln

Douglas Barton, Global Chairman of Elevate Education, says in his TedX Talk ‘What do top students do differently?’ that most learners will think that intelligence and hard work are the most important factors for how well they will do in exams. But Elevate’s extensive global research proves that top students don’t get good results because they’re smarter or have higher IQs. And although working hard is essential, it will only bring benefits if you work hard in the right way. You need to do the right things. If you keep using the same inadequate studying skills and doing more with them, you’ll get better at working badly.

“You can practice shooting eight hours a day, but if your technique is wrong, then all you become is very good at shooting the wrong way. Get the fundamentals down, and the level of everything you do will rise.”

– Michael Jordan

The three things that will make the most difference to your grades

The good news is that the things the evidence says will make the most difference to your results are entirely within your control and are skills that can be taught.

Douglas Barton’s three main tips for getting better exam grades are:

  1. Don’t worry about how smart you are.
  2. Do more practice exams.
  3. Create a study timetable, but the first thing you should add is the times you won’t be studying.

Let’s dive into these a bit further.

1. Don’t worry about how smart you are.

Not only is this out of your control but it’s also proven that this isn’t a factor in why the top students get the best results. The top students do the following two things:

2. Do more practice exams.

You can almost perfectly estimate a student’s results and rank a class by looking at the number of practice exams they’ve done, and practice exams are entirely within your control.

The week before the exam, most students will be making notes, re-writing notes or reading notes, but the minority (who almost always end up getting the highest grades) will be doing practice exams. The fear for most people is ‘what if I forget something’, but an exam is not a test of memory; it’s how you use what you remember, which is where practice exams will help you more than writing or re-reading notes.

3. Create a study timetable, but the first thing you should add is the times you won’t be studying.

Self-motivation and self-discipline are important for studying effectively – getting to work, and avoiding distractions, as is resilience – the ability to come back from setbacks (and everyone will have some setbacks). Elevate’s research proves that self-discipline trumps IQ.

But what if you don’t consider yourself someone with good self-discipline? (And most people don’t.) Author of Atomic Habits, James Clear says,

“When scientists analyse people who appear to have tremendous self-control, it turns out those individuals aren’t all that different from those who are struggling. Instead, “disciplined” people are better at structuring their lives in a way that does not require heroic willpower and self-control. In other words, they spend less time in tempting situations.”

Douglas Barton explains that for passing exams, this structure and self-discipline come from creating a study timetable. But he warns you not to make the mistake that most students make when they do this, which results in them throwing out their plan within a week.

Most people will put in their timetable when they’re going to study, some might also put in specific subjects, but these people have the highest likelihood of throwing out their schedule.

The top performing students first put in when they’re not going to study – their jobs, socialising time, and something fun every day – this creates happiness and balance, which leads to productivity.

In summary

Create a smart process for yourself. Don’t obsess over not being clever enough, memorising notes or working hard for the sake of working hard. If you get the process right, the results will take care of themselves.

Further reading

Coping with stress when studying for your AAT qualifications

As a former AAT tutor turned life coach, Lisa Phillips wants you to know that it’s normal to feel stressed about studying and assessments.

Stress can have a big impact on your mental health, and we tend to experience more of it around assessment time. The Mental Health Foundation defines stress as, “the degree to which you feel overwhelmed or unable to cope as a result of pressures that are unmanageable.”

But when it comes to studying, there are ways to manage it, said Phillips, who runs Amazing Coaching in Australia. “Stress doesn’t mean that you’re not good at [things],” she said.

“Everyone needs to learn to manage that stress and to react differently to it… how to soothe yourself if you’re stressed – like telling yourself ‘it’s going to be ok, it’s no big deal, I know I don’t feel like I’m getting it now but tomorrow it will be fine’,” she continued.

“Most people don’t know how to self-soothe, so they can end up in a panic.”

The art of stress management

Phillips recommends several tips to conquer the art of stress management.

First of all, you need to check your mindset and learn to think positively, she said.

“Most [students] are focused on the fear of failure rather than boosting themselves up that they’re going to pass. You can either build yourself up to be successful or you can beat yourself up to fail, and I saw a lot of students who were more focused on the fear of failing than on the opportunity to pass.”

Focus on your strengths

Another attitude to avoid is comparing yourself with others.

“Particularly with AAT, there’s lots of different modules and you might be better at one module than you are at another. Focus on your strengths. Everyone is going to be at different levels,” Phillips advised.

“Some people are morning people, some people are evening people. If you find yourself much better in the morning, then get up an hour earlier because your brain is going to be fresher… Find a timetable that works for your body.”

Celebrate your own achievements

Rewarding yourself is also important, she said. “Give yourself lots of praise. We’re our own worst enemies. If you do something and you learn something, praise yourself for doing it. Say to yourself ‘well done, that was really good’.”

And be wise about when to take breaks. “If you’re really exhausted then there’s not much point in revising; your brain won’t take it in. I call that struggling upstream,” said Phillips.

“You’re better off saying ‘I’ll leave this and commit to another time to do it’, and do it when you’re more relaxed and then your brain will take in more information,” she suggested.

Clear your mind before you study

Michele Caron, from My Life Coach in Canada, recommends minimising the things on your mind before you begin to study.

“If you want to endeavour to study you want to have as much of a clean slate as possible. And your working mind can be thought of as the RAM (Random Access Memory) of a computer,” she said. “We all know what it’s like if the computer is trying to do too many things at once.”

If you’re thinking about making dinner, the laundry, studying and what you have to do for tomorrow, then “you’re not going to be able to absorb new information,” she said.

“It’s really great to separate things out and make lists, and make space so that you’re not trying to do two or three things at once,” she said.

“At a time like this you should get really good at downloading things out of your brain, making lists, even if you think it’s something simple, like I need to buy bread tomorrow, put that on your list – everything that you want to download out of your brain and make space for yourself.”

Delegating tasks to other family members can also help, suggested Caron.

Create a ‘worry analysis’

“Part of the stress of the whole situation can be the extra thoughts about ‘do I have enough time or am I studying enough or am I going to pass’?” she said.

To help manage those thoughts it sometimes helps to create a written “worry analysis”.

“On the left-hand side write down the things that you’re worried about… then in the next column ask yourself, is this something I totally control or don’t control, or can I influence it?” Caron explained.

“Then in the right-hand column you’re going to put, what is my strategy for this? A lot of times the strategy will sound something like ‘I’m going to do my best but ultimately I don’t really control this so in terms of this particular worry I’m going to let it go’,” she said.

Watch out for the warning signs that you’re overloading, said Caron. If you have lost your enthusiasm and are feeling low on emotional energy then it’s time to “back off and work on inspiring yourself again.”

Make time to refresh and relax

Being strict about down time and relaxation can help, recognising that keeping healthy must be a priority if you want to do well in your exams.

“Every person should have a quick list of five things that they know refresh them. On your list should be something like taking a walk, or petting your cat or dog,” she said.

“It could be phoning your favourite friend, or taking a bath or reading a book or whatever you know can really refresh you,” said Caron. “Everyone should get to know themselves and have a good list of go-to items that they know are refreshing, relaxing and reenergising.”

How to stay healthy

Dr Sally Ann Law, a London-based life coach also emphasised focusing on your health to keep on track with your studies.

“You have to take your health seriously,” she said, adding: “Planning is utterly key. There is no point in having a gigantic to-do list. You have to convert the to-do list into reasonable and realistic day by day goals and then you have to make a good job of sticking to what you have said you will do.”

Key to this is to set strict rules about when you are going to give yourself time off.

“You have to see the time off not as time lost from studying but rather as time gained on an investment in being able to then study much more effectively… you have to see it as gaining energy and concentration.”

To relieve the stress of feeling guilty about spending less time with important people in your life, it helps to communicate clearly about how difficult things are going to be for a certain amount of time, asking for their patience and support, she said.

Getting enough sleep is fundamental

“We know increasingly how important sleep is in terms of stress management. We need time for our brain to recalibrate and be able to cope. Do whatever you can to get a balanced routine that enables you to get the best chance for a good night’s sleep,” she said.

London-based high-end life coach Michael Serwa believes that we don’t need to stress at all, even though “it sounds like a smart-ass thing to say.”

The things that we worry about are either things that we can control or we can’t, he explained. “And when you think about it, if you can control something why would you stress about it, and equally if you cannot control something why would you stress or worry about it?” he said.

“So the mindset shifts, and understanding that stress is a choice… Nobody can make you upset, you can only make yourself upset. Nobody can go inside of your head and pull the triggers,” he said.

Exercise is a stress-buster

“You can only do it yourself. So we use external triggers – people and situations –  to get stressed but ultimately we stress ourselves,” argued Serwa.

Serwa recommends that meditating for just ten minutes every morning – using apps like Headspace –  can make a difference to your daily stress levels.

A second kind of stress-buster is exercise. “Any form of physical activity,” he said. “Some people hate cardio or weight training, but surely there will be one form of activity that you don’t hate, so do that,” Serva added.

“We should all aim for three workouts of some sort every week and it’s not about the length but the intensity of those workouts, so you’re far better off having three short high intensity workouts than three 2 hour long sets of workouts when you’re on the phone half the time,” he said.

“We have time for everything. It’s about prioritizing the things that are really important. If stress is something that someone struggles with then you have to exercise at the very least.”

The science behind good health

The value of exercise in relieving stress is a concept that Matt Thompson, a sports psychologist at the University of Birmingham, wholeheartedly endorses.

“Exercise is fantastic for reducing stress and improving overall mental health and wellbeing! The chemical changes that occur in the brain as a result of exercise can improve our mood very quickly and the self-esteem gained by regularly exercising can have great longer term benefits to our mental health,” he said.

“A hugely important factor which ties in to our mental health and wellbeing is also the sense of community and social integration we gain from exercising and playing sport with others,” said Thompson, who works with Olympians and international athletes.

“The first step is the hardest! So set small goals to get you going. Even exercising for 10 minutes will give you benefits and will get the ball rolling! Also, join an exercise group or sports club to get that social support which can be so helpful!”

The Mental Health Foundation website is full of further information to help you work towards maintaining good mental health , including identifying if you are stressed, how to how to cope with stress, and how to raise awareness about mental health.

For more on managing your mental health during assessment season:

HMRC is freezing tax agent accounts where it detects suspicious activity

Some AAT members are reporting that HMRC has suspended their agent accounts without warning. What’s happening and why?

Agent Online Service Accounts (AOSAs) and Agent Services Accounts (ASAs) are a known target for criminals because they can provide access to many clients’ tax records. Therefore, HMRC is on the lookout for suspicious activity and acts swiftly when it believes it has spotted any.

HMRC says “HMRC monitors transactions on customer accounts for suspicious activity. Where we believe an AOSA or ASA has been compromised, we act quickly — and in some cases will suspend that account without notice. We appreciate the position this can sometimes place agents in, but we know you understand that our priority must always be the safety of customer data. Where we write to you, particularly regarding passwords and malware — we advise you not to ignore our letter.”

What can you do if your account is suspended?

If your account gets suspended you can contact HMRC’s helpdesk on 0300 2003 600. The helpdesk aims to respond to the agent within 72 hours to reinstate access. This involves resetting your passwords across all gateways and third-party filing software. It’s also essential to make sure devices are free from malware to prevent fraudsters getting back into your account.

In some cases, it has been taking HMRC longer than the targeted time to reinstate access for agents. Where this is the case, HMRC is asking agents not to contact its other teams as this will slow the process down.

How can you prevent this problem arising?

Protect your account against fraud by using strong passwords, changing your passwords regularly and protecting yourself against malware and phishing attacks.

If you believe your account has been hacked, you should report it to HMRC’s online services helpdesk at 0300 2003 600.

Find out more on GOV UK.

Freedom and flexibility from day one

The accountant start up programme breaks down the essentials into simple, practical manageable steps so you can focus on what really matters – building a business that works for you.

Find out more

The latest UKFIU SARs Annual Report is here

Find out how many SARs were submitted, the amount of funds denied from DAML requests and more.

The United Kingdom Financial Intelligence Unit (UKFIU) continues to see strong performance in how suspicious activity reports (SARs) are used to prevent money laundering and deny criminal assets.

A 61% increase in refused Defence Against Money Laundering (DAML) SARs where there was no previous law enforcement investigation demonstrates both better quality reporting and an improved UKFIU ability to target opportunities, and is accompanied by continued positive progress in operational outcomes.

Read more about the number of SARs and their impact in the UKFIU’s SARs Annual Report 2024 (PDF).

UKFIU Podcast on professional enablers

Panellists discuss how to avoid enabling money launderers.

Jacquie Griffiths (OPBAS), Edgars Pastars (Finance Latvia Association), and Tommas Kaplan (von Poll Immobilien) provide an overview of the challenges sectors encounter, and their views on what professionals should consider when de-risking.

This includes examples from their own work when encountering those attempting to launder the proceeds of crime and their response to avoid becoming a professional enabler.

Listen to the podcast on Spotify.

Have you seen these indicators of potential money laundering or fraud?

The UKFIU’s Suspicious Activity Reports (SARs) Reporter Booklet March 2025 is out now.

Your regular CDD, risk assessments and SARs are helping detect suspicious activity as early as possible, and preventing crime.

SARs are a critical intelligence resource for law enforcement – they provide information like phone numbers, addresses, company details, investment activity, bank accounts and details of other assets. They have been instrumental in identifying sex offenders, fraud victims, murder suspects, missing persons, people traffickers, fugitives and terrorist financing.

Ethics and the digital world

Visit the AAT Lifelong Learning Portal to find out more about the ethical impact of digital technologies on you as an accountant (log in to view).

Find out more

Accountancy and bookkeeping firms (including sole practitioners) play a critical role in alerting law enforcement to potential instances of money laundering and terrorist financing. Undertaking regular Customer Due Diligence (CDD) and risk assessments can help firms detect instances of suspicious activity as early as possible and the submission of SARs can help reduce and prevent financial crime.

SARs case studies

The latest SARs Reporter Booklet published by the UK Financial Intelligence Unit (UKFIU) uses case studies to provide a snapshot of how Suspicious Activity Reports (SARs) intel initiates and supports law enforcement investigations.

Risk indicators and the Accountancy AML Supervisors Group Risk Outlook

Some of the key risk indicators leading to the submission of the SARs in the case studies used include:

  • multiple identical payments made by a customer to the same entity, outside of normal business hours
  • large deposits being gambled which were inconsistent with the customer’s profile of a student with a part-time job
  • unexpected payment activity and excessive annual turnover for the company’s size
  • a payment of over £10,000 received from an overseas company account to which the customer had no apparent links.

Firms are reminded that the risk of money laundering and terrorist financing is constantly evolving. Firms should regularly review the Accountancy AML Supervisors Group Risk Outlook (PDF), and any other risks published by their supervisory authority (such as the AML Alerts that AAT publishes in Knowledge Hub) to make sure they have identified all the areas relevant to their own business. Especially as risks may evolve because of changes to the firm’s client base, geography and services provided.

Guidance on making an SAR

Chapter 6 of the CCAB’s Anti-Money Laundering, Counter-Terrorist and Counter-Proliferation Financing Guidance for the Accountancy Sector provides guidance on what suspicious activity must be reported, when and how a report should be made to the National Crime Agency, and matters which may require a Defence Against Money Laundering (DAML).

The quality of an SAR can affect the UKFIU’s ability to prioritise and process the report. It can also affect the relevant agency’s decision or ability to investigate. Before making an SAR, firms should familiarise themselves with the UKFIU’s Guidance on Submitting Better Quality SARs.

AAT’s AML helpline

AAT’s AML helpline offers advice for AAT-supervised firms on all aspects of complying with the Money Laundering Regulations, such as advice on how to report suspected illegal activity. To discuss any questions you might have, call us on +44 (0)20 7367 1347 or email [email protected].

Ethics and the digital world

Visit the AAT Lifelong Learning Portal to find out more about the ethical impact of digital technologies on you as an accountant (log in to view).

Find out more