UK art market Archives

Supervised Business Register (UK): Is your/another business registered as an Art Market Participant to legally transact?

Aug 2, 2024 | Guidance, UK

Find out if your business – or a colleague with whom you’re doing business, has successfully registered for Money Laundering Supervision. Why is checking the Supervised Business register important? Download the latest Register of Supervised Businesses by...

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...

Who needs to register as a ‘responsible person’ with HMRC?

Jul 2, 2021 | Guidance

Many Art Market Participants are being asked to register people in the business they didn’t know were subject to the regulations. This screenshot from an Art Market Participant registration page on gov.uk provides important insight (see more tips below): What...

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):...