HMRC postpones money-laundering compliance for second time

Trustees were originally required to register by April 1, 2008, but the need for further guidance on registration meant the regulations were pushed back until the end of May.

The deadline has now been extended further because the guidance has not materialised.

HMRC explained the deadline had been extended so they could ensure the right businesses registered.

HMRC said: "We have already allowed businesses to apply to register as a TCSP [Trust or Company-Service Provider] without penalty until May 31, 2008, we will now set a new application deadline of a minimum of four weeks from the date on which updated guidance is published."

HMRC recommended any firms that had not yet registered wait until guidance had been finalised.

It said it would contact any firms already registered should the new guidance affect them in any way.

HMRC also said there was no date or time frame for when this guidance would be available.