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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

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 businesstax@btc-nw.co.uk 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.

 

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

Seminar Invitation: Anti Money Laundering Update

The next in the Lifecycle national series of FREE training courses is taking place at a venue near you in May 2017.

This series of free seminars is taking place across the UK in May and sees Steve O’Neill, from our partner BTC, present his thoughts on the impact of the new legislation within the Money Laundering Regulations 2017 which are due to come into force later this year.

In his sessions, he will provide an overview of some of the more recent developments that will take place with the introduction of the new legislation that is due to come into effect on 26 June 2017. Continue reading

Companies House Planned Maintenance

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.

The essential system maintenance to the online services will affect:

  • WebFiling
  • XML gateway
  • WebCHeck
  • Companies House Direct

This means you won’t be able to file any information online during this period. We will hold all orders in our review files until the system is confirmed to be back up and running on the Tuesday

You should check Companies House Service (CHS) to see if your accounts are due during the planned maintenance. You may need to file earlier than planned.

Christmas and New Year Opening Times

Firstly, can wish all our clients and customers seasons greeting from us at BTC, we hope you enjoy the festive season break.

Our last despatch of physical documents to get to offices before Christmas is on Tuesday 20 December 2016, any physical documents generated after this date will be despatched when we return after the new year.

Our physical office will close on the evening of Tuesday the 20th. Our electronic systems for company formations and money laundering compliance reports will operate as normal 24 hours per day, each day during the holiday period.

We will still check every formation coming through the system before releasing to Companies House. Telephone support will be limited on Wednesday and Thursday the 21st and 22nd and resume as normal on Tuesday the 3rd of January, but we are still running email support for the occasional urgent matters that arise.

So if you have an urgent query email us on the main email address and we will do our best to respond as quickly as possible.

Tax advisers to send warning letters on taxing offshore assets

Offshore Assets

HMRC has published guidance on a letter which tax advisers and financial institutions may need to send to clients who have income or assets overseas, explaining its wider powers to exchange tax information with other jurisdictions and urging anyone who is in doubt about their offshore tax position to seek advice

Accountants and tax advisers should also have regard for companies they act for that have an offshore or overseas shareholding, especially from recognised tax havens such as BVI or the Channel Islands. Advisers should be aware that this type of company may not have been declared to them. This again will extend to clients who may own overseas properties through overseas companies. Continue reading

BTC Newsletter June 2016

BTC Company Software

Changes to the incorporation and form filing software

As from 30 June 2016 PSC’s must be provided upon Incorporation by the company, unless they have reason to believe that they don’t have any PSC’s, which will be rare.

The order form been modified to cater for these changes with the inclusion of: ‘Legal Person’, PSC Officer role and Nature of Control questions.

The software suppliers have sought legal advice to ensure that the system complies with the new legislation but we understand that this may not necessarily result in the most practical of a user interface, they have already taken steps to improve the user experience and there will be further updates to the order form throughout July and August.

Continue reading

Christmas and Festive Season Opening Times

Christmas and Festive Season Opening Times

Wishing you all a happy seasonal break! It is that time of year again, when myself and Irma actually get a week off! Of course our online company formations and customer AML verification searches do not go off, they run 24 hours a day, 365 days a year.

The various Companies House’s though will be open or closed on the days listed below, of course there will be no company filings processed during these times.

  • Thursday 24 December All offices open, but earlier closure at 4pm
  • Friday 25 December All offices closed
  • Monday 28 December All offices closed
  • Tuesday 29 December All offices open
  • Wednesday 30 December All offices open
  • Thursday 31 December All offices open
  • Friday 1 January 2016 All offices closed
  • Monday 4 January 2016 All offices open (apart from Edinburgh which will be closed)

At BTC our last of despatch of physical documents to get there before will be on Friday 18th of December. Of course online PDF’s generated by the systems will be delivered automatically by email as normal.

During week of the 21st, 22nd and 23rd of December there will be some telephone support and full email support. On Christmas Eve we will have some limited email support.

The following week, the 28th is a bank holiday and the 29th 30th and 31st we will have email support and but no telephone support, we are actually having a few days break.

Full service will be back to normal on Monday January 4th 2015, although it is a bank holiday in Scotland.