Revenue & Customs Brief 18/08
27th March 2008
HMRC have issued important news for Trust or Company Service Providers (TCSPs) about changes to Registration Guidance and when to register with them. They have announced that theMLR 9 Registration Guidance for TCSPs will be updated in April to reflect feedback from businesses in their discussions with HM Treasury about the interpretation of the regulations as they apply to TCSPs.
They say:
“HMRC will allow businesses to apply to register as a TCSP without penalty until 31 May 2008. This will give you time to consider the impact of the updated guidance on your need to register.
If you have not yet registered you may wish to delay registering until the updated guidance is available.If you have already registered with us, you do not need to do anything at this time. If you are affected by any change, we will contact you directly when the guidance has been updated.
Any TCSPs who have not applied to register by 31 May must not carry out any TCSP activity thereafter, and if they do they will face penalty action. TCSPs can apply to register after 31 May, but they will be treated as a new registration. This means they will not be able to operate until their application has been successfully processed and they have been notified of their registration number. It may take up to 45 days for us to process their application.
We will publish further information on the MLR latest news page when updates become available.”
Link: The announcement can ben found here.
Got something to say?
You must be logged in to post a comment.
