The draft Economic Crime (Anti-Money Laundering) Levy (Amendment) Regulations 2023 set out various administrative provisions for the assessment and collection of the levy, together with measures relating to enforcement, appeals, and information and record-keeping requirements. The draft Regulations also set out the penalties that can be imposed under the principal Economic Crime Levy Regulations (SI 2022/269) for various failures in relation to the levy, including failure to submit a return and failure to pay the levy on time. The new Regulations are expected to have effect retrospectively from April 2022.
The draft Economic Crime (Anti-Money Laundering) Levy (Amendment) Regulations 2023 set out various administrative provisions for the assessment and collection of the levy, together with measures relating to enforcement, appeals, and information and record-keeping requirements. The draft Regulations also set out the penalties that can be imposed under the principal Economic Crime Levy Regulations (SI 2022/269) for various failures in relation to the levy, including failure to submit a return and failure to pay the levy on time. The new Regulations are expected to have effect retrospectively from April 2022.
