In February 2006, money laundering reporting obligations for UK tax advisers were revised under S330 (6) The Proceeds of Crime Act 2002 and Money Laundering Regulations 2003 Amendment) Order 2006. The amendments extended professional privilege to include 'relevant professional advisers', which are defined as UK accountants, auditors or tax advisers who are a member of a UK professional tax or accounting body.
This enables fully confidential discussions to take place in the UK or overseas.
