Chartered Tax Advisers
Old Bishops' College

T: 01992 642024


Smiling businessmen and women

     Anti money laundering compliance

As a professional firm providing tax advice, accounting, company and trustee services, we are subject to the anti money laundering legislation found in the Proceeds of Crime Act, Terrorism Act and Money Laundering Regulations 2007.

The regulations oblige us to hold records confirming the identity of a client and, where relevant (for example with a company or a trust) also to vouch the identity of the beneficial owner(s) of that client. We are, additionally, obliged to undertake an initial, and ongoing, risk assessment in relation to each client

Where we provide our services directly to a private client, the forms of identification required by us from the client and, where applicable, from the beneficial owners of that client, can be found here.

Where we provide our services to another regulated intermediary, such as a firm of accountants, solicitors or trustees, and the advice or other services are of a general nature for use by that intermediary, it is the intermediary which is subject to the identification requirements.

Where our services are provided in relation to a specific client of that intermediary, the regulations require us to observe the identification procedures in respect to that client. This applies regardless of whether our primary contractual relationship is with the intermediary or directly with their client. We are, however, permitted, at our own discretion, to rely instead upon a regulated intermediary’s own client due diligence. UK based intermediaries wishing to provide this assurance can do so by completing and returning to us this certificate. An equivalent facility exists for intermediaries subject to non-UK money laundering compliance regulations; such intermediaries should contact us to discuss the requirements which need to be satisfied for UK purposes.

These client identification requirements apply without exception. In no circumstances, will we undertake work where the identification obligations have not been satisfied.

Being relevant professional advisers under the regulations, we have the benefit of the privilege reporting exemption which applies to knowledge of a client's affairs gained by us in the course of providing advice to the client concerning their rights and obligations in respect of tax and other laws. The exemption means that we are not subject to the obligation which is imposed on some other advisers to report known, or suspected, criminal offence to the authorities. The exemption most often applies when we advise in relation to actual or possible tax investigations, including those where it is alleged that fraud or other serious irregularities have occurred.


Back to Top