The premises registration fee and annual renewal fee will increase from £115 to £130 from 1 December 2017. Information has also been added about a £40 non-refundable charge for an approval test to be introduced from 1 November 2017.

Applicants are required to pay £115 (increasing to £130) for each of the premises included in the application. If the application is refused, HMRC will refund the premises fee if the applicant did not supply all the information they needed, or if someone in the business failed the fit and proper test or was not approved by HMRC.

There is a non-refundable application fee of £100 when businesses first apply to register for anti-money laundering supervision.

There is also an existing provision for a fit and proper test fee of £100 for each person tested, which is non-refundable. This applies to a money service business or a trust or company service provider.

For those who are an accountancy service provider, estate agency business or high value dealer, the new money laundering regulations require an approval test to check key personnel for relevant criminal convictions.

This test will be implemented from 1 November 2017 and a non-refundable charge of £40 will apply per person being tested.

HMRC’s guidance states that fees should be paid online when businesses first apply to register and when they renew.

When an applicant gives details of their business, the online service will work out how much they owe and let them pay the total amount due for each type of fee.

HMRC guidance on money laundering supervision: fees is here.

Report by Pat Sweet