HM Revenue and Customs has introduced a penalty administration charge for all Anti Money Laundering Supervision penalties issued from 25 July 2018.

For registration penalties, such as a failure to register or notify us of changes to your business, the charge will be up to £350, in addition to the amount of the penalty.

For compliance penalties, such as breaches of the Money Laundering Regulations in respect of customer due diligence, policies, controls and procedures and record keeping, the charge will be up to £1,500, in addition to the amount of the penalty.

See here.

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