How to Renew HMRC MLR?

➲ Overview

Renewing your Money Laundering Regulations (MLR) registration with HMRC is crucial for compliance if the renewal date is passed you are not allowed to trade till new registration is received. Follow these steps in renewal process.

➲ Step 1: Check Renewal Timeline

Be aware of your registration expiry date and start the renewal process at least 3 months in advance.

➲ Step 2: Gather Required information

You will need to provide specific financial information for your business, including:

• Number of Transactions

  Include the total number of transactions conducted in the previous year.

• Turnover

  Report your total business turnover for last 12 months.

• Profits

  Provide details of your profits for last 12 months.

• Expected Figures for the Next 12 Months

  Estimate the number of transactions, turnover, and profits you anticipate for the upcoming year. This information helps HMRC assess your business's scale and associated risks.

➲ Step 3: Complete the Online Application

• Log in to the HMRC portal and fill out the MLR renewal application.

• Ensure all information is accurate and complete.

➲ Step 4: Submit Payment

• Pay the required renewal fee as specified by HMRC.

➲ Step 5: Confirmation and Follow-Up

• After submission, monitor your application status and respond promptly to any HMRC queries.