Check if you need to register for the Economic Crime Levy
Find out if your business needs to register with HMRC to pay the Economic Crime Levy.
The Economic Crime Levy applies to businesses that are supervised under the Money Laundering Regulations.
Who does not need to register with HMRC
You do not need to register with HMRC for the Economic Crime Levy if you are supervised under the Money Laundering Regulations by any of the following collection authorities:
- the Financial Conduct Authority (FCA)
- the Gambling Commission
- both HMRC and the FCA
- both HMRC and the Gambling Commission
You will need to follow the FCA or Gambling Commission guidance and pay the levy to one of these collection authorities.
Do not register for the Economic Crime Levy, submit yearly Economic Crime Levy returns, or pay the Economic Crime Levy to HMRC.
Who needs to register with HMRC
You must register with HMRC if the sum of your UK revenue is more than £10.2 million for all accounting periods ending within a financial year, and your business is regulated either by:
- HMRC for anti-money laundering purposes
- a professional body for anti-money laundering purposes
The financial year runs from 1 April to 31 March of the following year.
If your accounting period is not 12 months, the £10.2 million threshold is amended pro rata using the number of days in the relevant accounting periods.
You only need to register for the Economic Crime Levy once, but you will need to submit a return and pay the levy each year.
If you are part of a business group
The levy will only apply to members in the group who meet the requirements for registering.
Each eligible member of the business group must register, submit yearly returns, and pay for the Economic Crime Levy separately.
If you are part of a partnership
The nominated partner must register, submit yearly returns, and pay for the Economic Crime Levy on behalf of the partnership.
How to register
Find out how to register for the Economic Crime Levy.
Updates to this page
Published 25 May 2023Last updated 28 November 2024 + show all updates
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Added clarification about entities who do not need to register for the Economic Crime Levy. Moved section about the amount to pay to the 'Pay your Economic Crime Levy' page.
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A translation has been added.
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First published.