ECSH63975 - Regulation 53 - Interpretation


Category Heading 
 Description 
The Law https://www.legislation.gov.uk/uksi/2017/692/regulation/53  
What it means For the purposes of Regulations 53 – 60, HMRC is the registering authority for: 
 
1. Relevant persons who are required to register with HMRC under Regulation 54(2) (who are not registered by Financial Conduct Authority (FCA)) including:  
- High Value Dealers (HVDs) 
- Money Service Businesses (MSBs) 
- Trust or Company Service Providers (TCSPs) 
- Bill Payment Service Providers (BPSPs) (for which HMRC are the supervisory authority)  
- Telecommunication, Digital, IT Payment Service Providers (TDITPSPs) (for which HMRC are the supervisory authority)  
 
2. Relevant persons who decide to register with HMRC under Regulation 55(3) (who are not supervised by any professional bodies (See Schedule 1 for professional bodies in further reading)) including: 
 
- Estate Agency Businesses (EABs) 
- Accountancy Service Providers (ASPs) 
- Letting Agency Businesses (LABs) 
- Art Market Participants (AMPs) 
- Bill Payment Service Providers (BPSPs) 
- Telecommunication, Digital, IT Payment Service Providers (TDITPSPs)
Purpose The purpose of this regulation is to set out who the “registering authority” is for the purposes of Part 6, Chapter 2 (Registration) of the MLRs.  
Time Line Although the previous regulations provide a duty and power to maintain registers, there was no reference to “registering authorities” under the previous regulations. 
What to established N/A
How to test compliance and evidence to obtain 
 See Regulation 54 and 55 for HMRC’s duties and power to maintain registers to ensure relevant businesses are registered with HMRC.  
Best Practice No additional Best Practice. 
AMP No additional Best Practice. 
ASP No additional Best Practice. 
EAB No additional Best Practice. 
LAB No additional Best Practice. 
HVD No additional Best Practice. 
MSB No additional Best Practice. 
TCSP No additional Best Practice. 
Further Reading Schedule 1 - Professional Bodies   
Reg 54 – Duty to maintain registers of certain relevant persons 
Reg 55 – Power to maintain registers   
FAQs