Money Laundering Regulations: registration fees
Details of the initial fees, renewal fees and 'fit and proper' test fees charged under Money Laundering Regulations.
There’s a non-refundable application charge for registering for anti money laundering supervision for the first time. This is in addition to the premises fee for registering each of your premises for the first time and also an annual renewal fee for each of your premises. You may also have to apply and pay for the ‘fit and proper’ test.
If you apply to register 1 premise, you’ll pay the:
- £100 application charge
- £115 for the premise
If you apply to register 2 premises and have 2 fit and proper tests, you’ll pay the:
- £100 application charge
- £230 for the 2 premises
- £200 for the 2 fit and proper tests
From 1 April 2015 the fee structure is changing. The new charges for 2015 and 2016 are listed below:
|Charge type||1 April 2015||1 April 2016|
application charge for
registering for anti money laundering supervision
Note: this is in addition to the premises fee and if you have to pay for a fit and proper test
for each premises listed on the application (this is in addition to the application charge)
renewal premises fee
for each premises listed on the application at the time of renewal
|Fit and proper test||£100||£100|
- Estate Agency Businesses no longer have a cap of 20 on the number of premises that they pay for
- the fit and proper test is currently only for businesses registering as Money Service Businesses or Trust or Company Service Providers
Read more about these changes at Anti Money Laundering Supervision fees review.
Initial registration fee
There’s an initial fee for each of the premises you list in your registration. This is currently £110 for each of the premises. If you’re listing more than one you can make a single payment that covers all of the fees due.
You have to pay the registration fee when you first apply to register under the Money Laundering Regulations and every year after that.
Annual renewal fee
Towards the end of your registration year HM Revenue and Customs (HMRC) will send you a reminder to pay your annual renewal fee. The letter shows the registration details that HMRC has for your business and also how much you must pay. You must check these and tell HMRC if anything has changed.
HMRC may cancel your registration if you don’t pay your annual renewal fee on time.
Fit and proper test fee
There is a one-off £50 application fee for each person who applies for the test. From 1 April this will increase to £100.
How to pay the fees
You’ll need to pay your registration fee by cheque when you first apply to register. You can include any ‘fit and proper’ test fees you need to pay on the same cheque. Make it payable to ‘HM Revenue and Customs’.
Once you’re registered you can pay your renewal fees each year by:
- internet/telephone banking
- Faster Payments
- Bacs (Bankers Automated Clearing System) Direct Credit
- CHAPS (Clearing House Automated Payment System)
Make sure you quote your Money Laundering Regulations registration number when making your payment.
How HMRC uses the fees paid
HMRC uses the fees to:
- provide the advice and guidance you need to meet your Money Laundering Regulations responsibilities
- carry out checks to make sure that businesses are doing all they need to under the regulations
- work with other organisations, for example assisting the National Crime Agency with prosecutions
For further information contact HMRC Money laundering unit.