Why your accountant asks for ID, and keeps asking
Anti-money laundering rules require accountants to check who their clients are and where their money comes from. It can feel like paperwork; it protects you as well.
Accountancy firms are supervised for anti-money laundering. Before we act for a client, the Money Laundering Regulations require us to identify them, verify that identity and understand the nature of their business and, where relevant, the source of funds. For a company, we must identify the people with significant control.
What we ask for
- Photo identification and proof of address for individuals.
- For companies, the ownership structure and identification for those who control it.
- An understanding of what the business does and where its money comes from.
- More, in higher-risk cases, such as large cash businesses or complex overseas structures.
Why it is repeated
Due diligence is not a one-off. We must keep it up to date, so we ask again when something changes, such as new shareholders, a new line of business or a large transaction, and refresh it periodically. It is the same logic as the Companies House identity checks introduced in 2025.
These checks are part of what keeps the financial system honest. They also protect clients, by making it harder for anyone to use their business, or their name, for fraud.
This insight is general information, not advice for your circumstances. Talk to us before acting on it.