CCAB Guidance over Money Laundering
With ‘The Register of People With Significant Control’ (Beneficial Owner) legislation receiving its final tweaks before going live at the end of the year and with the 4th European Money Laundering Directive (4MLD) being passed in June, the Consultative Committee of Accountancy Bodies (CCAB) has published a useful guidance document reminding accounting service providers (obliged practitioners) of the importance of safe-guarding against money laundering.
Tax evasion of both direct and indirect taxes are one of the big issues highlighted in the 4MLD it is important that the sector understands its obligations under the UK Legislation. In the last budget there was announcements concerning the use of off shore companies and bank accounts by UK residents for tax evasion or criminal purposes, no doubt in the forthcoming budget of the 8th of July there will be further anti-avoidance measures announced.
The guidance can be found here