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OPBAS Launches professional body supervision


A new watchdog launches 18 January 2018 to strengthen the UK’s defences against money laundering and terrorist financing.

The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) is a new regulator set up by the government to strengthen the UK’s anti-money laundering (AML) supervisory regime, it is based within the FCA and will work with and ensure all the UK professional body AML supervisors provide consistently high standards of AML supervision and with law enforcement to strengthen cooperation. Continue reading

Christmas Opening Times

Our offices will close at 1.00 pm on Friday 22nd December and re-open on Tuesday 2nd January 2018. BTC online formations and the SmartSearch AML platform will be live and operational 24-7 throughout this period. The office will have a skeleton staff from 27th to 29th December to assist with any customer service queries, this should be done in the first instance by an email enquiry.

Thank you for your business in 2017 we do appreciate it, and we look forward to serving you in 2018.

Steve O’Neill

Professional Enablers of Tax Avoidance and Evasion

In the budget speech the Chancellor announced further measures to tackle professional enablers of tax avoidance and evasion.

The government is investing a further £155 million in additional resources and new technology for HMRC. This investment is forecast to help bring in £2.3 billion of additional tax revenues by allowing HMRC to tackle tax leakage through avoidance and evasion.

In particular, the resource is earmarked for further tackling those who are engaging in marketed tax avoidance schemes, enhancing efforts to tackle the enablers of tax fraud and hold intermediaries accountable for the services they provide using the corporate criminal offence and increasing HMRC’s ability to tackle non-compliance among mid-size businesses and wealthy individuals.

AML Seminars November 2017

Steve O’Neill will be presenting the following anti-money laundering training sessions during November 2017. The talk will include topics such as;

  • What’s new in the 2017 Regulations
  • The new corporate offence of ‘a failure to prevent the facilitation of tax evasion’
  • The proposed new supervisory regime for professional bodies

The venues and professional bodies are;

  • 21 November 2017 AAT Leicester Branch at 6pm
  • 29 November ICAEW Southport Branch at 5.15

For further details of the events please contact the relevant professional body

People with Significant Control (Amendment) Regulations 2017

People with Significant Control (Amendment) Regulations 2017

The Government enacted the legislation necessary to implement changes required by the Fourth Money Laundering Directive to the UK regime for the disclosure of people with significant control (PSCs). Two sets of amending regulations were made at the last minute, both of which came into force on 26 June 2017.

  • the Information about People with Significant Control (Amendment) Regulations 2017 (SI 2017/693); and
  • the Scottish Partnerships (Register of People with Significant Control) Regulations 2017 (SI 2017/694).

Both sets of regulations were laid before Parliament on 23 June, just three days before they came into force. Continue reading

Changes to PSC registers Transitional Arrangements

Changes to PSC registers Transitional Arrangements  

Under the transitional arrangements set out in the Schedule to the 2017 Regulations, the obligation in s. 790VA to notify changes to Companies House applies to a change to a company’s PSC register made before, on or after 26 June 2016 unless the company has already notified the change in a confirmation statement. Any change to the PSC register made before 26 June 2017 that is notifiable under this rule, must be notified to Companies House before the end of the period of 14 days beginning with 26 June 2017. Continue reading

2017 Money Laundering Regulations Policies and Procedures

Policies and Procedures Templates for the Money Laundering Regulations 2017

For existing BTC account holders your order can be charged to your account, to find out more or discuss your requirements contact us by calling 01706 215803 or emailing non-account holders can order through our online shop.  

A complete set of templates which aids in the requirements in the Regulations for risk sensitive policies, controls and procedures which are able to demonstrate to a supervisor your firm’s specific policies, controls & procedures for AML. It includes:

• Templates covering The firms’ Policy Statement,
• Templates for the ‘Risk Register’ that is Risk Assessment & Risk Management controls and Procedures
• Templates for Policy and management procedures for reporting both internally and to SOCA
• A further ‘Tool Kit’ section packed with working papers and other relevant items to help you prepare your firms specific policies, controls and procedures.

The documents are delivered electronically allowing for simple editing in word along with explanations and instructions of what is expected of you for each section.

For more details visit our money laundering compliance website


Anti Money Laundering Verification Platform

SmartSearch is Ready for the 2017 Anti-Money Laundering regulations

Access to the SmartSearch Platform through Business Tax Centre is on a ‘pay as you have used basis’ with no formal contractual amount payable, pay for your usage only.

The unique SmartSearch Anti Money Laundering verification platform is enabling regulated businesses to comply with the latest 2017 Anti Money Laundering (AML) Regulations and fulfil their AML, Customer Due Diligence (CDD) and Know Your Customer (KYC) compliance obligations. With no requirement for clients to provide identity documents, the SmartSearch is much more convenient and cost effective for both your firm and your clients.

Full details of our searches can be found on our money laundering compliance website

The unique platform brings together both Individual and Business searches for the UK and International Markets with automatic Worldwide Sanction & PEP screening.” It will give you complete functionality to process any type of AML search all from a single and easy to use platform.

The Real-time hosting of all your businesses search activity and AML outcomes enables you to recall on-demand any AML outcomes to support an internal audit or an external visit from your supervisory body or regulator.


Changes to PSC Information Filing Requirements

From 26 June details of PSC Information will no longer be updated on the confirmation statement (CS01). Instead, companies will need to inform Companies House on forms PSC01 to PSC09 whenever changes occur. Companies will have a 14-day window in which to update their internal registers and a further 14 days to send the new information to Companies House. Therefore, a maximum filing time of 28 days from the date of the event. Continue reading

Latest Newsletter

Companies House maintenance and shut down

This is to let you know about planned maintenance that will be occurring at Companies House covering the Easter Break between Thursday, 13 April and Tuesday, 18 April.  This will affect most aspects of their online services

Most of their online services will be unavailable from 11:59pm on Thursday 13 April to 7am on Tuesday 18 April.

Click to read the full post Continue reading