On 13 January, Accountancy Daily reported that HMRC has published outline guidance on the changes to AML/CFT regulations, which have been extended to cover lettings agents and art dealers from mid-January, with more detailed information set to follow.  The Money Laundering and Terrorist Financing (amendment) Regulations 2019 came into force on 10 January, updating existing regulations, and implementing elements of the 5th EU AML Directive.  HMRC says it will take into account the short lead-in time businesses have had to implement all the new requirements in assessing the response to any non-compliance.

The HMRC guidance is at –

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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