The publication of the Government’s White Paper in July 2018, setting out the Future Relationship Between the United Kingdom and the European Union, saw a dramatic change of direction as a mutual recognition model for financial services was dropped from the negotiation objectives and instead replaced with a desire to improve the EU’s current arrangements surrounding equivalence.
Donald Rumsfeld, former US Secretary of Defence, is famously quoted as saying: “There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know.” This often aptly sums up students’ approach to AML compliance.
On the 13 June, AIA took part in the AML Supervisors’ Forum Intelligence roundtable meeting hosted by the Office for Professional Body Anti-Money Laundering Supervision (OPBAS) at the FCA along with other professional bodies, HMRC and the National Crime Agency (NCA) to call for different options to allow law enforcement and the NCA to share intelligence with supervisors.
Following the confirmation by HMRC at yesterday’s (11 June 2018) Agent Strategy Group Forum that the timetable for Making Tax Digital for business (MTDfb) remains as planned with VAT coming online from April 2019, AIA pressed for the availability of bridging software to be announced as a matter of urgency.
As part of the newly-launched ‘Change’ transformation programme, Companies House are striving to achieve the vision of ‘brilliant people, brilliant systems and brilliant services’. But to do this, they need your input.
AIA were delighted to attend the inaugural Companies House Stakeholder Engagement roundtable meeting for accountants at Chartered Accountants Hall last week (31 May 2018). The CEO of Companies House, Louise Smyth, attended along with members of the Companies House team to discuss current issues and challenges in the accountancy sector with key personnel from professional and representative bodies.