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 everything in place. Common sticking points include not having conducted a money laundering risk assessment with corresponding AML Policy, nor having undertaken AML training. Some good news is that the ArtAML solution includes supporting you to put these essentials in place.
First things first: We’ve created a template for the HMRC registration online submission form to save you time and alleviate frustration. Prepare your answers to all sections before starting a live submission entry, to ensure that everything is ready to go.
After you’ve downloaded our HMRC registration guide below- available as an excel sheet and PDF, head to our Instagram IGTV channel and watch this video with our CEO Susan J Mumford, who walks you through the process.