HMRC have published the policy paper Prepare for the Economic Crime Levy.
“The Economic Crime Levy (ECL) is an annual charge on entities who are supervised under the Money Laundering Regulations (MLR) and whose UK revenue exceeds £10.2 million per year.
Affected entities will have to:
– register for the ECL
– submit a return every year
– pay a fee every year
The first payments will be due by 30 September 2023.
This page sets out information to help relevant entities understand how the ECL will work, what they will have to do and when they will have to do it.”