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Laundry time

04 June 2008
Issue: 4161 / Categories: Forum & Feedback
Do the latest money laundering regulations apply to everyone in tax practice?

I have just read 'What's the score?' by Richard Curtis (Taxation 17 April 2008) and am having difficulty believing that this legislation actually applies to advisers like myself and I would hazard that there are quite a few of us. I am at retirement age but still have a few clients (about two dozen) for whom I act with regards to the preparation of their personal tax returns.

All of my clients are either employees or retirees with all of that income being dealt with via the PAYE system and all of their other sources of income are either from interest-yielding bank accounts or UK company shareholdings. So all of their sources of income are effectively regulated and 'visible' in the UK tax system.

I do have 64-8 authority forms signed by my clients and these have been submitted to HMRC who are obviously aware of...

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