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:
- Identifying who we are dealing with.
- AML risk assessing you.
- 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.