As accountants feel the pressure over increased scrutiny of their AML reporting, the Treasury has tabled a new consultation that is set to overhaul anti-money laundering supervision as we know it.

The Treasury have put forward four new ideas that could potentially reform the supervision of accountants and lawyers' compliance with money laundering regulations.

The options ranged from bolstering the current supervisors of supervisors OPBAS to the more extreme option of stripping the professional bodies and HMRC of its supervision responsibilities and creating a brand new supervisor - the one supervisor to rule them all.

On this week's podcast, David Winch explores the four potential reforms and offers advice to accountants anxious of upcoming changes. 

Also on the pod, the AWEB team discuss ICAS' recent review of MTD for ITSA and its call to scrap the controversial project's decision  on quarterly reporting, as well as taking a closer look at AI and asking: is this new technology a friend or foe when it comes to tax? 

Podcast speakers:
Richard Hattersley
Tom Herbert
David Winch

Producer/editor:
Will Cole

Cinematic + Bright

No Accounting for Taste ep 142: AML, AI and MTD

Rachel Reeves kept her promise with no tax changes in yesterday’s Spring Statement. With expectations low, Richard Hattersley recaps the key takeaways, including the eight consultations and policy papers released and looks ahead to what the Autumn Budget might bring.

One of the policy papers released confirmed that sole traders and landlords with incomes of more than £20k would be pulled into the system by 2028. Tom Herbert explains what this means and why Reeves didn’t mention MTD in the Spring Statement. 

Matthew Ord shifts focus from the Spring Statement to HURST, an accounting and business advisory firm with big growth plans. He recalls his chat with managing partner Tim Potter on their strategy, recruitment challenges and tech investments.


No Accounting for Taste ep185: A 2025 Spring Statement special

AccountingWEB’s business editor Tom Herbert speaks to Karen Briggs, KPMG’s new head of Brexit, about forecasting in uncertain times, what the firm is advising their clients and what a head of Brexit actually does...

No Accounting for Taste ep185: A 2025 Spring Statement special

AccountingWEBUK

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