In March 2020, the chancellor announced the government’s intention to introduce a new levy on anti-money laundering-regulated businesses (including law firms).

HM Treasury will publish a consultation on the levy in spring 2020. The intention is for the levy to commence from 2022/23 onwards.

The consultation will seek views on:

  • what the levy will pay for
  • which businesses should be paying the levy
  • how levy liability will be calculated
  • how the levy will be collected and enforced
  • how government can ensure there is transparency over levy spend.

The Law Society will be using feedback from members to help shape our engagement with officials and ministers.