MLR Procedures

sheelagh
sheelagh Registered Posts: 130 Dedicated contributor ๐Ÿฆ‰
edited June 18 in AAT member discussion
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

  • slackda
    slackda Registered Posts: 456 Dedicated contributor ๐Ÿฆ‰
    Hi Sheelagh,

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

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

    Regards

    Martin
  • deanshepherd
    deanshepherd Registered Posts: 1,798 Beyond epic contributor ๐Ÿง™โ€โ™‚๏ธ
    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?
  • Poodle
    Poodle Registered Posts: 695 Epic contributor ๐Ÿ˜
    deanshepherd wrote: ยป
    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? :)
  • deanshepherd
    deanshepherd Registered Posts: 1,798 Beyond epic contributor ๐Ÿง™โ€โ™‚๏ธ
    I have a special place for depositing enquiries from builders..

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

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