Now that Making Tax Digital (MTD) for VAT is in effect, it’s easier to reflect on HMRC’s digitalisation initiative with clarity.
Where before certain parts of the legislation initially appeared unclear, today we’re able to identify the exact responsibilities of both clients and accountants. Whether that’s knowing how to move your accounts online or selecting bridging software to ensure compliance, all parties now have the resources to stay on the right side of the taxman come tax return deadlines.
The new website for the Registry of Beneficial Ownership has now launched.
The RBO is the central repository of statutory information required to be held by relevant entities in respect of the natural persons who are their beneficial owners/controllers, including details of the beneficial interests held by them.
The new AIA Regulatory Oversight Committee is charged with ensuring that the AIA maintains its compliance with the Money Laundering Regulations 2017 and adding a level of oversight and scrutiny in line with best practice. The Committee will report directly to Council, taking responsibility for the appropriateness of the framework for AIA’s internal regulation of Members in Practice.
Updated Member Guidance
Updated guidance is made available for AIA members supervised for AML to ensure their compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR2017).
The Compliance Checklist should be read in conjunction with the MLR2017, additional guidance issued by AIA and other regulatory authorities.
AIA has also provided guidance for use when explaining the importance of client due diligence with clients on establishing a business relationship.
Congratulations once again go to AIA Council Member, Gloria Murray of Murray Associates for being shortlisted in the Top 5 Pioneers in the Accounting Excellence Awards 2019.
The awards, now in their ninth year are presented by AccountingWeb with the aim of recognising brilliance and innovation across the British accounting profession.
AIA pleased to extend partnership agreements with PTP Limited, Six Forward and HMCA. The continued collaborations reaffirm AIA’s commitment to providing AIA members with trusted high quality partner services at discounted rates. The services on offer aim to promote growth, increase efficiency and decrease costs for accountants around the world.