Apr 4, 2024 | Guidance, Knowledge Base, UK
Wanting to register or renew for Money Laundering Supervision in the UK? Need to talk with HMRC as regulator for UK Art Market Participants? Read this post for key info. Points of note:>> The associated Organisation Government Gateway ID is the same as your...
Mar 26, 2024 | Guidance, Knowledge Base, UK
Find out if your business – or a colleague with whom you’re doing business, has successfully registered for Money Laundering Supervision. Why is this important? For businesses with a UK operation: You need to be an approved Art Market Participant with HMRC...
Mar 4, 2024 | Guidance, Knowledge Base
Risk guidance published by HMRC (June 2021) highlights the importance of identifying if funds have come from a high-risk jurisdiction, in context of art transactions. Why is this important? According to the risk guidance: Such locations are “more likely to be...
Feb 20, 2024 | Guidance, UK
A targeted Amber Alert from the UK’s National Crime Agency warns about money laundering via art storage facilities. This impacts businesses and providers in and to the art market and requires direct action to be taken when holding art on short or long term...
Nov 10, 2023 | Guidance, Our solution, UK
In order to carry out activities as an Art Market Participant in the UK, you need to register with HMRC. This is akin to an application process, as it is possible to be rejected. This has been experienced by some Art Market Participants we know who didn’t have...
Sep 27, 2023 | Guidance, Knowledge Base, UK
Establishing the definition of a ‘work of art’ is key to meeting obligations as an Art Market Participant: It is only transactions of a set value in works of art that trigger the requirement to conduct Customer Due Diligence. In the UK, the definition is...