HMRC webinars for Anti-Money Laundering Businesses 6 July 2018
HMRC have a free webinar which is aimed at all businesses who are registered with HMRC for Anti Money Laundering Supervision.
The webinar is to be held on Wednesday 25 July 2018 at 11am. This webinar is aimed at businesses covered by the Money Laundering Regulations. It will cover:
• • • •
Why Suspicious Activity Reports (SARs) are important
Why the quality of the reports is important
What help is available
The benefits of making good quality reports
As with other similar events, there will be an opportunity for the attendees to ask the presenter their own questions, but HMRC will only be taking questions about the SAR process.
HMRC are keen to highlight the value of this event which they plan to be informative and to provide a cost effective opportunity to learn more about this important obligation and to understand why SARs are so important.
This webinar should compliment the existing range of webinars that currently exist for Accountancy service providers, Estate agency businesses, High value dealers, Money service businesses and Trusts or company service providers.
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Consultation on Amending HMRC’s Civil Information Powers 17 July 2018
A consultation has been published which reviews a number of aspects of HMRC’s information powers. Its aim is to ensure they have remained effective and efficient in the ten years since they were enacted.
It is now over a decade since the current framework of information provisions was enacted following the Review of Powers. Many of these powers mirror provisions that date back to the 1970s. This consultation is an opportunity to review aspects of these provisions, to ensure they remain appropriate, enable HMRC to carry out its functions efficiently and effectively, and also to consider whether the relevant safeguards remain proportionate. There are a number of anomalies in the current rules which could be addressed.
Since the 1970s digitalisation has led to significant changes in the way businesses work. These changes include:
• The UK has seen a continuing decline in the use of cash resulting in many more payments being handled electronically. • Securities trading has become almost entirely electronic. • The use of paper bank statements is starting to decline. • Traditional banks and building societies are seeing new competition from start-up “banks” which often have no physical branches. • New International agreements to facilitate the exchange of bank data between countries. These changes, as well as many others, have resulted in much more information being held electronically. Financial records in particular can now be shared with greater ease than ever before as the financial system becomes ever more flexible. It is important that HMRC regularly reviews its processes to ensure they are keeping pace with such a rapidly changing world.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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