Wanting to register or renew and you're in the UK? Need to talk with HMRC as regulator for UK Art Market Participants? Read on for key info.
Points of note
- The associated Organisation Government Gateway ID is specific to Money Laundering Supervision (MLS), and is separate to the Government Gateway for Corporation Tax, VAT, PAYE, etc.
- You are urged to keep your password in a safe place, ideally encrypted. HMRC has warned us that losing the password has caused some registered businesses difficulty in the past.
- After initially registering and paying the annual fee for trading premises and responsible person/s, the business will need to renew each year. This includes paying the same fees each year.
- When HMRC sends you an email message, you need to log into your MLS account to read the message. This means that if you ever receive a message that looks questionable (which we’ve seen happen with genuine communication from the regulator), you can separately log into your account to see if you have really been contacted. It’s for this reason that they communicate in this manner.
URL for registering / renewing your UK Money Laundering Supervision:
https://www.gov.uk/guidance/register-or-renew-your-money-laundering-supervision-with-hmrc
Will you receive a penalty for late registration?
If you’ve had ‘qualifying transactions’ of 10K+ EUR in works of art since 10th June 2021, you can expect to pay a penalty. Providing that you’re voluntarily registering, and haven’t been requested to do so by HMRC, you’re eligible for a 50% reduction. To receive this, at the time that you submit your AMP registration, email MLRCIT@hmrc.gov.uk and explain that you’re voluntarily registering. This creates an audit trail to support the reduction in fee.
Contact HMRC
- Email: MLRCIT@hmrc.gov.uk
- Or specifically with regard to registration: ecsregistration@hmrc.gov.uk
Further reading
What do I need to do to register as an Art Market Participant (UK)?