National Statistics: Personal pensions: retirement annuity contracts and free standing Additional Voluntary Contributions

Updated: Table updated to include 2016 to 2017 data.

Data includes individual contributions, self-employed figures and employer contributions.

All figures are derived from returns made by scheme administrators to HMRC, apart from retirement annuity contracts, which are derived from HMRC’s survey of personal incomes, and self-employment contributions, which are derived from a matching of both these sources.

Source: HMRC

National Statistics: Personal pensions statistics introduction

Updated: Tables PEN1, PEN2, PEN2.1, PEN2.2 and PEN6 have been updated to include 2016 to 2017 data.

It is divided into 4 sections:

  • section 1 – an introduction to the different types of pensions and their tax treatment
  • section 2 – commentary and analysis of the main trends in personal pension contributions and tax relief
  • section 3 – detailed statistical tables
  • section 4 – details of the data used in this publication and the estimation methodologies

Source: HMRC

Collection: Personal pensions: contribution and tax relief statistics

Updated: Updates to Tables PEN3, PEN4 and PEN5.

These statistics provide:

  • the value of contributions to non-occupational personal pensions
  • tax relief estimates for employer and individual contributions to personal and occupational non-State registered pension schemes

Methodology is explained in the statistics along with additional analysis and commentary.

HMRC has renumbered the tables:

  • table PEN1 – was previously Table 7.16
  • table PEN2 – was previously Tables 7.4 & 7.5 now combined.
  • table PEN2.1 – was previously Table 7.4
  • table PEN2.2 – was previously Table 7.5
  • table PEN3 – was previously Table 7.10
  • table PEN4 – was previously Table 7.11
  • table PEN5 – was previously Table 7.12
  • table PEN6 – was previously Table 7.9

Some previous updates to these statistics can now be found on the National Archives website.

Source: HMRC

Detailed guide: Money laundering supervision: business premises you need to register

Updated: The examples of premises that must register with HMRC now include ‘virtual offices’ and ‘agent premises’. New guidance has been added for registering where you have several outlets at one address.

Premises to register

You must tell HM Revenue and Customs (HMRC) about your premises when you register for anti-money laundering supervision.

You’ll need to pay fees for each premises where you carry out certain types of business and related activities covered by the Money Laundering Regulations.

This includes:

  • offices
  • shops and auction houses
  • call centres
  • cruise ships (in UK territorial waters)
  • home address or contact address (if you don’t have a business address)
  • virtual offices and agent premises

Several outlets at one address

If you run more than one outlet from the same address, such as an airport, you can treat each outlet as a single premises and you’ll only pay one fee. They must all be managed by the business and all staff must be employed by the business. The nominated officer for the business must be responsible for all the outlets.

Premises you don’t need to register

You don’t need to register any premises that are outside the UK or that you only use for:

  • storing your business records
  • training employees
  • generally managing your employees

If any part of processing transactions takes place there though, such as paperwork being completed, you’ll need to register the premises.

Agents or franchisees

You should register your agent’s or franchisees’ premises if:

  • you have an overview of transactions from all your agents or franchisees which they don’t have
  • you’re responsible for the way their business is run
  • you’re putting in place the anti-money laundering controls and procedures used when they deal with your customers

You don’t have to register your agent’s or franchisees’ premises if you have little control over the:

  • way they work
  • anti-money laundering controls they put in place

They must then apply to register their premises instead.

You should contact HMRC if you’re not sure which premises to include, or you’re an agent or franchisee wanting to know if you need to register.

Source: HMRC

Detailed guide: Money laundering supervision for accountancy service providers

Updated: Content reviewed and updated to simplify the registration process.

Who should register

You may have to register with HMRC if your business operates as an accountancy service provider.

Under Money Laundering Regulations accountancy service providers are:

  • auditors who carry out statutory audit work
  • accountants who provide accountancy services to clients
  • tax advisers and consultants who provide advice to clients about their tax affairs
  • payroll agents that provide accountancy services and/or tax advice
  • customs practitioners, freight forwarders and similar businesses if they provide accountancy or tax services

The services they provide can be recording, reviewing, analysing, calculating and reporting on financial information for other people. This includes:

  • professional bookkeeping services
  • accounts preparation and signing
  • tax advice, for example:
    • help with completing and submitting tax returns or duty claims
    • advice on whether something is liable to a tax or duty
    • advice on the amount of tax or duty that is due

If you do some but not all of these things, and you’re still not sure, you can contact HMRC for guidance.

Who doesn’t need to register

You don’t need to register if:

  • you’re an Insolvency Practitioner (you’ll be supervised by the Insolvency Service)
  • you give tax advice or accountancy services on a non-commercial basis, for example within your own organisation rather than to a third party

Payroll businesses that don’t need to register

If you’re a payroll services provider to a third party, you’re not an accountancy service provider for the purposes of the Money Laundering Regulations if you:

  • provide software or hardware service support for payroll data processing, as long as you don’t analyse or prepare any financial information
  • pay invoiced service fees to self-employed people, umbrella companies, partnerships or other corporate service providers
  • operate as a body like an umbrella company or a managed service company and carry out payroll functions for employees who are working on assignments for an end-user client
  • provide recruitment or human resources management services and carry out payroll functions as a small part of your main business activity (for example, you might be an employment business that supplies or manages temporary or contract workers)

Customs practitioners that don’t need to register

If you’re in business as a customs practitioner, a freight forwarder or similar, you’re not covered by the Money Laundering Regulations if you only provide services like:

  • helping your clients with classifying or valuing exports and imports for customs purposes
  • helping clients to comply with customs and other procedures, like using simplified declaration procedures or facilities like warehousing
  • helping clients with import or export licensing, and submitting import and export declarations on their behalf
    paying duties, taxes and levies on behalf of importers

Accountancy service providers already registered or supervised elsewhere

If you’re an accountancy service provider you must register with HMRC unless:

  • you’re already supervised for Money Laundering Regulations purposes by a professional body
  • all your customers are themselves supervised by HMRC or a professional body

The main supervisory bodies

For Money Laundering Regulations, the main supervisory bodies for accountants, bookkeepers, tax advisers and other financial advisers are the:

  • Association of Accounting Technicians
  • Association of Chartered Certified Accountants
  • Association of International Accountants
  • Association of Taxation Technicians
  • Chartered Institute of Management Accountants
  • Chartered Institute of Taxation
  • Financial Conduct Authority
  • Institute of Certified Bookkeepers
  • Institute of Chartered Accountants in Ireland
  • Institute of Chartered Accountants in Scotland
  • Institute of Chartered Accountants of England and Wales
  • Institute of Financial Accountants
  • International Association of Bookkeepers
  • Law Society

If you’re supervised by one of these bodies you don’t need to register with HMRC.

If all your customers are accountancy service providers

If all your customers are accountancy service providers supervised by HMRC or a professional body, you don’t need to register so long as:

  • you don’t do business directly with the supervised accountancy service providers’ own customers
  • you’re included in the supervised accountancy service providers’ anti money laundering controls and procedures, suspicious activity reporting, and training programmes
  • you have a written contract with each of your customers confirming that every aspect of the relationship between you meets all anti money laundering requirements

You need to meet all of these conditions, otherwise you’ll need to register.

How to register

Apply to register with HMRC using the online service. You’ll be able to pay your fees at the same time.

Annual renewal

At the end of each registration period we’ll send you a renewal notice inviting you to renew your registration by paying the annual fee on all your listed premises. If you don’t need your registration to continue then you should notify HMRC.

If you don’t pay the correct renewal fee then HMRC may terminate your registration and remove your business from its anti-money laundering register.

Source: HMRC