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Hi all.
Recently I have been looking into varying company formation agents for my employer, and have come up against a query. As I understand it, the ML Regulations DO cover company formation agents (in fact the HMRC online guide specifically says that it does), so how can some formation agents get away with not asking for any identify verification? Is there a clever loophole I'm missing?
Also, if someone was to include company formations to their existing bookkeeping/accounting practice services, would they need to register this part of the business seperately or would it come under the same umbrella of the regs offered by the likes of ICB, ACCA etc.?
One final point, if you were to set you a business as JUST a formation agent, would you need to register under the MLR and what sort of verification documentation would be required? How can formation agents complete a formation in under 4 hours using webfiling software when potentially they would require the directors to send in passports etc BEFORE the company was registered......? I know the agent we use has NEVER asked for any documentation regarding verification of directors/shareholders, and the agent we use is a Plc, not a small busines. All very puzzling.
Hope someone out there will know where to find the answer.
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