Businesses need to register with HMRC to comply with Money Laundering Regulations (MLR). Businesses that need to register to monitor money laundering activity are detailed at the following link: https://www.gov.uk/guidance/money-laundering-regulations-who-needs-to-register.
Where a business is currently registered it may be able to defer payment for the money laundering registration fee that is due between 1 May and 30 September 2020 or deregister if the business has ceased trading.
Where the business is continuing it needs to meet its MLR obligations and stay registered with HMRC. HMRC will send a reminder on the date that registration payment is due and this can either be paid on the due date of up to six months from the due date.
Businesses that have temporarily closed due to the coronavirus or stopped all MLR activities can sign into their MLR account and deregister. They will need to reregister if they restart their business.
Last reviewed 20 May 2020