On 21 July, the Home Office launched a consultation on a proposal included in Budget 2020 whereby the UK government announced its intention to introduce an economic crime levy. This consultation invites views on the design principles of the levy, and how this levy could operate in practice, to ensure that it is proportionate and effective. The consultation seeks views on what the levy will pay for, how it should be calculated and distributed across the AML-regulated sector, and how the levy should be collected. The consultation closes on 14 October.
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