HM Revenue and Customs (HMRC) launched a consultation on the way it charges fees to the businesses it supervises under the Money Laundering, Terrorist Financing and Transfer of Funds (Information Payer) Regulations (MLR) 2017. The consultation will end on September 21, 2018.
The MLR 2017 allows HMRC to charge fees to applicants for registration and to the businesses it supervises, to meet any expenses it reasonably incurs in providing supervision. Total fees income must not exceed those costs.
HMRC currently charges four types of fee to registered businesses:
Three revised options are published for consultation:
HMRC will consider all the responses to these options and publish a summary of responses later this year.
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