HMRC has issued the final version of regulations which provide further detail on how the economic crime levy will be managed by HMRC and the other collection authorities.
The Economic Crime (Anti-Money Laundering) Levy (Amendment) Regulations, SI 2023/369, set out various administrative provisions for the assessment and collection of the levy, together with measures relating to enforcement, appeals, and information and record-keeping requirements.
The regulations also set out the penalties that can be imposed under the principal Economic Crime Levy Regulations (SI 2022/269) for various failures in relation to the levy, including failure to submit a return and failure to pay the levy on time.
The regulations have effect in relation to the financial year beginning with April 2022 and subsequent financial years.
HMRC has issued the final version of regulations which provide further detail on how the economic crime levy will be managed by HMRC and the other collection authorities.
The Economic Crime (Anti-Money Laundering) Levy (Amendment) Regulations, SI 2023/369, set out various administrative provisions for the assessment and collection of the levy, together with measures relating to enforcement, appeals, and information and record-keeping requirements.
The regulations also set out the penalties that can be imposed under the principal Economic Crime Levy Regulations (SI 2022/269) for various failures in relation to the levy, including failure to submit a return and failure to pay the levy on time.
The regulations have effect in relation to the financial year beginning with April 2022 and subsequent financial years.
