Under the Money Laundering Terrorist Financing and Transfer of Funds regulations 2017, money service businesses (MSBs) are subject to the fit and proper test. When a submission is received by the HMRC an outcome is normally provided in a reasonable time period. One of our members submitted a request to HMRC, however an outcome had not been provided after 12 months. From the feedback we have received from members, having a direct phone number, email or an individual to liaise with, is vital if a query needs to be raised. Following our invitation, HMRC agreed to attend a meeting with the NPA to re-establish our business relationships, the outcome was extremely positive for the NPA. Through discussion the HMRC agreed to review the outstanding member application, which was subsequently approved within two weeks, delivering a fantastic result for our member.
If your business has any application challenges with the HMRC please contact the NPA directly, who will liaise with the HMRC on your behalf to help resolve any issues. Noting that we cannot guarantee a successful outcome for all applications submitted.
The fit and proper test - GOV.UK