Friday, 11 March 2022

UK: The Economic Crime (Anti-Money Laundering) Levy Regulations 2022

The Economic Crime (Anti-Money Laundering) Levy Regulations 2022 were laid before the House of Commons today and come into force on 1 April: see here or here (pdf). Their purpose is to make provision in respect of the administration of the new levy (introduced by Part 3 of the Finance Act 2022) by those responsible for its collection (HMRC, the FCA and the Gambling Commission). For further information, see the accompanying explanatory memorandum: here (pdf). Further Regulations are expected and will, amongst other things, deal with appeals, debt transfers, information sharing and enforcement.

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