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• # 118458
• Wed 18 Mar 2020 09:22 PM

I have been asked to work on property accounts. The company is already regulated by the FCA and has a MLR licence. They want someone to do property management accounting which involves doing vat returns for clients of the company and not the company's own vat return. Given the company is already MLR compliant would I have to carry out due diligence? They have provided their registration number which is registered on HMRC register.   The role involves working on their clients accounts as an agent and not their own accounts. 

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• # 118464
• Mon 23 Mar 2020 12:15 PM

Yes I would still do due dillgence and your own AML information on the ICB as you are an external company. Although they have their own regulations I have found it always best to stick to your own checks. 

Especially as it would essentially be your PI Insurance you will be working under not theirs.

Hope this helps

Kind Regards

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