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The Economic Crime Levy (Anti-Money Laundering) legislation uses several specific terms which are defined for its own purposes. It also adopts, with or without modification, certain terms, and their definitions from elsewhere within the Taxes Acts.

This part of the guidance brings together the principal terms and their definitions.

鈥淎ccounting period鈥�: In relation to a company within the charge to corporation tax, the accounting period is to be read in accordance with Chapter 2 of Part 2 of CTA09. In relation to any other person, the accounting period is the period for which the person鈥檚 accounts are drawn up.

鈥淎ppropriate Collection Authority鈥�: Please see ECL11200

鈥淐ompany鈥�: This takes the meaning given by section 1121(1) of CTA 2010.

鈥淓ntity鈥� in the context of the ECL means a person defined by the Interpretations Act 1978.

鈥淓CL鈥�: This is an abbreviation of Economic Crime Levy

鈥淔CA鈥�: This is an abbreviation of Financial Conduct Authority, a financial regulatory body.

鈥淔inancial Year鈥�: This is the UK national tax year which runs from 6th April to 5th April in the following year.

鈥淕C鈥�: An abbreviation of Gambling Commission, a non-departmental public body.

鈥淕enerally accepted accounting practice鈥�: This has the meaning given by section 1127(1) and (3) of CTA 2010. [BIM31000]

鈥淗MRC鈥� Means His Majesty鈥檚 Revenue and Customs

鈥淢oney Laundering Regulations鈥�: This means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 () (as amended from time to time).

鈥淣on-UK resident person鈥� means a person who is not resident in the United Kingdom.

鈥淩egulated business鈥� means a business carried on by a person by virtue of being a relevant person within the meaning of regulation 8(1) of the Money Laundering Regulations.

鈥淧ermanent establishment鈥�: In the case of a company, a permanent establishment is to be read in accordance with Chapter 2 of Part 24 of CTA 2010. For any other person, a permanent establishment is to be read in accordance with that Chapter but as if the person were a company [ {#}INTM260000]

鈥淧ersons鈥�: The Interpretations Act 1978 defines a person as including a body of persons corporate or unincorporate.

鈥淩elevant accounting period鈥�: Please see ECL22000 for an explanation on how this is decided.

鈥淧rofessional Body Supervisor鈥� (PBS): Please see the following for information on what Professional Body Supervisors means: [Office for Professional Body Anti-Money Laundering Supervision (OPBAS)

FCA](https://www.fca.org.uk/about/how-we-operate/who-work-with/opbas)

鈥淪upervisory authority鈥� means an authority that is a supervisory authority under the Money Laundering Regulations (see regulation 7 of those Regulations). The guidance of who needs to be registered for Money Laundering Regulations supervision can be found here:

鈥淭ribunal鈥� means the First-tier Tribunal or, where determined by or under Tribunal Procedure Rules, the Upper Tribunal.

鈥淭urnover鈥� means the amounts derived from the provision of goods and services after deduction of trade discounts, value added tax and any other taxes (other than the levy) based on the amounts so derived.

鈥淯K resident person鈥� means a person who is resident in the United Kingdom.

鈥淔inancial year鈥�: Financial year is defined in the Interpretation Act 1978 as follows: 鈥溾�淔inancial year鈥� means, in relation to matters relating to the Consolidated Fund, the National Loans Fund, or moneys provided by Parliament, or to the Exchequer or to central taxes or finance, the twelve months ending with 31st March.

鈥淔A2022鈥�: means Finance Act 2022

鈥淯K Revenue鈥�: The amount of the UK revenue to be reported for the financial year is taken from the 鈥榬elevant accounting period鈥� (see ECL23000).