Policy paper

Economic Crime (Anti-Money Laundering) Levy: draft legislation

This measure introduces the draft legislation for a new levy on the anti-money laundering (AML) regulated sector 바카라 사이트“ the Economic Crime (Anti-Money Laundering) Levy, or 바카라 사이트˜ECL바카라 사이트™.

• From: HM Treasury
• Published: 21 September 2021

This was published under the 2019 to 2022 Johnson Conservative government

Documents

PDF, 98 KB, 8 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

PDF, 183 KB, 9 pages

Details

At Budget 2020, the government announced a new levy to raise £100 million per year from the AML-regulated sector to help fund ambitious reforms outlined in the government바카라 사이트™s 2019 Economic Crime Plan.

AML-regulated entities with over £10.2 million in UK revenue will be liable to pay the levy, which will first be collected in 2023/24 (April 2023 바카라 사이트“ March 2024). The levy will be collected by the three public sector AML statutory supervisors: the Financial Conduct Authority, HM Revenue & Customs, and the Gambling Commission.

The government is now holding a technical consultation on the ECL draft legislation ahead of its inclusion in the 2021-22 Finance Bill, to ensure the legislation operates as intended. This consultation will run until 15 October 2021. Please send responses to: eclevyconsultation@hmtreasury.gov.uk.

Published 21 September 2021