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HMRC internal manual

Money Laundering Regulations: Compliance

High Value Dealers: Which businesses come within the definition of a High Value Dealer?

An HVD is anyone who is prepared to make or receive high value payments. A high value payment (HVP) is a payment of at least €10,000 (or its equivalent in any currency) in cash for goods, whether it is in a single transaction or several instalments which appear to be linked. HVDs can be a wholesaler or retailer accepting cash payments for goods or can be accepting cash payments on behalf of another person, for example auctioneers, art dealers and similar entities. In reality an HVD could be anybody who is in the business of selling goods.