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HMRC internal manual

MLR1 Penalties Guidance

Penalties guidance: glossary: G to P

Gross Profit Turnover less direct costs.
HMRC Her Majesties Revenue and Customs.
HVD High Value Dealer.
Intervention A desk based, telephone or face to face enquiry by Compliance Officers.
ML Money Laundering.
MLR IU Money Laundering Regulations Intelligence Unit
MLR 2007 Money Laundering Regulations 2007.
ML/TF Money laundering and terrorist financing.
MSB Money Service Business.
Officers Officers of HMRC.
Parallel Breach A breach of both the 2003 and 2007 Regulations.
Penalty Notice A letter notifying a business or relevant individual within a business about a penalty.
PY Previous year.