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HMRC internal manual

MLR1 Penalties Guidance

HM Revenue & Customs
, see all updates

Penalties guidance: glossary: Q to Z

Regulation Money Laundering and Payment Regulations
Relevant Customer/Client A customer of an ASP/TCSP/EAB who was provided with a regulated product or service during the relevant period.
Relevant Period The period when any breach of the Regulations took place.
Relevant Transaction A business transaction which is covered by the Regulations.
Relevant Turnover Total turnover from regulated activity in the relevant period.
Related Breach Breaches of linked Regulations such as those relating to customer-due-diligence measures and risk assessments.
RTT Risk Targeting Team.
Review The statutory review of a Decision introduced by the Transfer of Tribunal Functions and Revenue Appeals Order 2009.
Reviewing Officer The CCG Appeals Officer undertaking the Review
Review Period The period within which a Review must be completed. This is 45 calendar days. The period may be extended by agreement with the customer/business
TCSPs Trust or Company Service Providers.
TF Terrorist Financing
Trading Undertaking regulated activity by way of Business.
Transfer of Funds Regulations 2007 UK legislation under which we are empowered to issue penalties or prosecute for breaches of the European Payments Regulation.
Tribunal Caseworker The CCG Appeals Officer preparing an appeal for a tribunal hearing.
Turnover Business Income from trading goods and services.