Money Laundering


#1

Hi

A client of mine runs a cleaning company and he asked me if I could elp him with his payroll.

He has 11 staff all who earn under LEL, so no Tax or NI has to be deducted.

I recently found out that a few of them have other jobs so he has registered with HMRC for PAYE and appointed me as his ‘agent’.

Do I have to register for Money Laundering?

All that happens is his employee’s send me their Time Sheets, I work out their wages, email the figures back to him and then he pays them!

Any help on this would be gratefully recieved.

Many Thanks

Amanda


#2

Hi Amanda

Yes I think you do. If you’re calculating and reporting on financial information for other people and telling them whether tax is or isn’t due then you’re an Accountancy Service Provider and have to register with HMRC (or with a supervisory body such as a book-keepers association or AAT). More info here hmrc.gov.uk/mlr/getstarted/register/asp.htm If you scroll down a bit there’s some info that some payroll services are outside the scope of registering but I think that’s more software providers. As far as I know if you do the actual calculations you have to register. There’s a link to email them for advice.
The process of registering isn’t difficult and they didn’t carry out any particular checks on my credentials when I did it. It costs £110.00 a year but it’s an offence not to if you should - and the penalty is a lot more!