HMRC Archives - ArtAML

Art fair walk-arounds and interventions by HMRC: The regulation of Art Market Participants is getting serious

Feb 24, 2023 | Guidance

The UK regulator for Art Market Participants (“AMPs”) is now visiting art fairs as well as conducting full interventions of regulated art businesses. Art fair visits If you’ve recently exhibited at an art fair in the UK, you might have met one of the...

HMRC’s message to Art Market Participants: Key changes in the updated BAMF Guidance (2022)

Sep 21, 2022 | Guidance, Policy + Consultations

The British Art Market Federation (“BAMF”) Guidance was updated for UK Art Market Participants (“AMPs”) on 30th June 2022. HM Revenue & Customs (“HMRC”) as regulator sent an email update with key changes to AMP businesses registered for supervision. The list of...

Customer due diligence and reliance: Important clarity from HMRC to support your compliance

Sep 16, 2021 | Guidance

In June 2021, HMRC published risk guidance for the UK art market. Amongst other points, they outlined what is – and importantly isn’t, intended by relying on other Art Market Participants (AMPs) in transactions. Attaining this understanding is vital to...

HMRC’s risk guidance for the art market: A must-read

Sep 16, 2021 | Guidance, Policy + Consultations

HMRC as the UK’s regulator for money laundering has published risk guidance. The findings are the result of getting to know specific situations faced by the industry. The publication presents two tables that show: > Risks common to all Art Market...

Art Market Participants: What you need to know – webinars by HMRC

Feb 4, 2020 | Guidance, Policy + Consultations

HMRC as the regulator for UK Art Market Participants runs webinars that are specific to the sector as well as more generally for AMP businesses. Press play on the image below to watch a webinar for AMPs (which will take you to a separate webpage at gov.uk):...