[2014] UKFTT 950 (TC)

Judge Timothy Herrington, Mr Ian Abrams

Decision released 14 July 2014

Money Laundering Regulations 2007 (SI 2007/2157) – Penalty for failure to register – Whether the appellant provided accountancy services requiring registration – No – Appeal allowed and penalty discharged.

  The First-tier Tribunal (FTT) has allowed a taxpayer companyʼs appeal against a penalty for a breach of the Money Laundering Regulations 2007 (‘the Regulations’), ruling that the taxpayerʼs payroll service business was not an accountancy service provider (ASP) and therefore it did not need to be registered as such under the Regulations.

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