MLR Procedures

sheelaghsheelagh Well-KnownRegistered Posts: 133
Does anyone have a template checklist I could "borrow" for use when assessing the ML risk of new clients? I know AAT MIPs are genrally expected to only work with "low risk" businesses, but that makes it harder to think of something contructive to document.

Thank you

Comments

  • slackdaslackda Trusted Regular Registered Posts: 460
    Hi Sheelagh,

    Try this only had a glance at it but might be useful

    http://www.hmrc.gov.uk/mlr/index.htm

    Regards

    Martin
  • deanshepherddeanshepherd Font Of All Knowledge Registered Posts: 1,809
    I work through the following noting yes/no answers and assessing the risk as either low, medium or high:

    - Is it a cash based business?
    - Does it have non-UK resident directors?
    - Does it have non-UK resident shareholders?
    - Are there any cross-border transactions?
    - Are there any complex transactions?
    - Are they in a higher-risk industry?
  • PoodlePoodle Experienced Mentor Registered Posts: 711
    I work through the following noting yes/no answers and assessing the risk as either low, medium or high:

    - Is it a cash based business?
    - Does it have non-UK resident directors?
    - Does it have non-UK resident shareholders?
    - Are there any cross-border transactions?
    - Are there any complex transactions?
    - Are they in a higher-risk industry?

    Could add

    Are they builders? :)
  • deanshepherddeanshepherd Font Of All Knowledge Registered Posts: 1,809
    I have a special place for depositing enquiries from builders..

    alongside solicitors.. take-aways.. charities.. estate agents..
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