Welcome 

This is a Practical Tax Database your online tax partner. It answers your key tax FAQs and is packed with useful and practical tax and business know-how, tools, examples and checklists...Read Reviews

Register for our FREE news update service, or Subscribe to UNLOCK all the content. Our Terms & Conditions  apply.

Check out our sister site: Virtual Tax Partner® support service for advisers and their clients.

Spring budger whats on the horizon

VtaxP is a pay-as-you-go tax support service. It is the tax advisory sister service to the site you are now on (the www.rossmartin.co.uk practical tax database).

To ask a tax query, you need to raise a support ticket, see How do I use the Virtual Tax Partner (VtaxP) service? 

What is the Virtual Tax Partner ® (VtaxP ®) AML process summary?

As an obliged entity in terms of Money Laundering Regulations (MLR) VtaxP cannot enter into a business relationship with you until we have completed AML checks. These are summarised as:

  1. Identifying who we are dealing with.
  2. AML risk assessing you.
  3. Verification of your ID for anti-money laundering purposes.

Verification includes checking of your ID and proof of address, or that of your owners plus:

  • If you are a company, we must verify your registration on the Persons of Significant Control (PSC) register.
  • If you are a trustee, settlor or beneficiary of a UK trust or a non-UK trust with UK assets, we must verify that the trust has been registered on the Trust Registration Service (TRS).
  • If you are an overseas person with a 'relevant interest' in UK land, we must verify that you have been registered on the Register of Overseas Entities(ROE).
  • If you are an accountancy service business, tax business, trust and service company provider, an estate agent or lettings business, a high-value dealer or any other regulated business type, we will require your AML registration details with HMRC unless you are registered for AML with a professional body supervisor, if so we require your membership number with your professional firm.

AML-regulated professional firms: we are able to rely on your ID checks performed in respect of your relevant client if you give us permission to do so. This is enabled when you raise a support ticket. We must still AML check you as a firm before we enter into a professional relationship with your firm.

Please see our Knowledgebase of help topics for the CCAB guidance to accountants and the use of a third party's AML data.


Squirrel ad


Are you enjoying our content? 

Thousands of accountants and advisers and their clients use www.rossmartin.co.uk as their primary TAX resource.

Register with us now to receive our receive our FREE SME Topical Tax Update & newletter