If an accountant or other business adviser is registering for anti-money laundering supervision with HMRC they will
need to pay:
- a one off application fee (of £100)
- a registration fee for each premises (of £115)
- a fit and proper test fee (for money service businesses or trust or company service providers) for each person tested
- an approval process fee (for accountancy service providers, estate agency businesses, or high value dealers) for each person tested
When registering the fee is £115 for each of the premises included in the application. Though this fee will be increased by £15 per premise (from £115 to £130) from 1 December 2017.
If HMRC refuses the application to register they will refund the premises fee if:
- not all the information needed was supplied
- someone in the registering business failed the fit and proper test or wasn’t approved by HMRC
Adding or removing premises from your registration
If the business needs to add new premises to their registration in the first 6 months of the year, they’ll need to pay the full fee for each premises.
If they want to add new premises to their registration in the second 6 months of the year, they’ll need to pay half of the fee for each premises.
If a premises needs to be removed from the registration, HMRC won’t refund the fee for that premises.
Fit and proper test fee
If the application is from a money service business or a trust or company service provider, there is a non-refundable fit and proper test fee of £100 for each person tested.
Approval process fee
If the application is from an accountancy service provider, estate agency business, or high value dealer the new money laundering regulations require an approval test to check key personnel for relevant criminal convictions.
This test will be implemented from 1 November 2017 and a non-refundable charge of £40 will apply per person being tested.
Annual renewal fee
Towards the end of the registration year HMRC will send an email telling the applicant to log into their account to renew the registration.
The renewal fee is £115 for each of the premises shown on the application at the time of renewal. The renewal fee will be increased by £15 per premise (from £115 to £130) from 1 December 2017.
You can find out more about these changes to the arrangements on the .Gov website.
