Compliance
Compliance Spotlight: Key New Reporting & Registration Requirements You Shouldn’t Miss
Governments are tightening compliance: new registration for tax advisers in UK; stricter remittance tax regs in the US. Know what you must do _now_.
By NomadicTax Research Team • 5-8 min read • June 23, 2026
## Significant Global Compliance Updates (Last 30 days)
Recent policy changes across major jurisdictions highlight new registration and reporting obligations that affect various stakeholders:
- **UK’s new tax adviser registration regime (MMTAR)**: From **18 May 2026**, paid advisers who interact with HMRC on client’s behalf must register online under a phased rollout through to **March 2027**. Failure to register when required may lead to penalties or suspension. ([gov.uk](https://www.gov.uk/government/news/tax-advisers-check-if-you-need-to-register-under-new-rules?utm_source=openai))
- **US remittance transfer tax (One, Big, Beautiful Bill framework)**: Since **1 January 2026**, there’s a **1% excise tax** on remittances sent using physical instruments (cash, money orders, cashier’s checks, traveler’s checks) from US senders. Proposed regulations clarify funding instruments, tax base, and reporting rules under Form 720. Compliance burdens begin immediately, with relief for first three calendar quarters on penalty for incorrect deposit amounts. ([irs.gov](https://www.irs.gov/newsroom/treasury-irs-issue-proposed-regulations-on-the-new-remittance-transfer-tax-established-under-the-one-big-beautiful-bill?utm_source=openai))
## What This Means for Different Actors
| Entity | What They Must Do |
|--------|-------------------|
| Tax advisers in UK | Check whether you are required to register; use HMRC’s online checker; prepare to meet the agent services account (ASA) requirements; understand timelines by group. ([gov.uk](https://www.gov.uk/government/news/tax-advisers-check-if-you-need-to-register-under-new-rules?utm_source=openai)) |
| Remittance transfer providers in US | Update payment instrument definitions; establish internal systems for collecting excise tax; comply with deposit schedule; File Form 720 quarterly; watch for final regulations. |
| Individuals sending remittances or clients of tax advisers | Assess whether remittances are taxed; understand exemptions; ensure adviser you hire is registered if in UK; keep documentation. |
## Actionable Compliance Checklist
1. For UK advisers: determine what registration group you fall into, register accordingly **before your window opens** (there are 4 staggered phases to March 2027). Create a checklist of supporting documents HMRC requires.
2. For US senders or providers: segregate funding instruments used; revise internal workflows so instruments like cashier’s checks or cash are flagged; ensure semimonthly deposit deadlines met.
3. Update policies and contracts to reflect changes; for example, remittance providers need terms with senders to cover collection of tax.
4. Train staff—especially sales or customer-facing teams—in UK adviser market or US remittance services—to spot taxable instruments and client obligations.
5. Monitor regulatory publications—both UK and US for final rules or additional guidance (UK’s MMTAR has secondary legislation forthcoming; US remittance tax has proposed rules under comment period). |
**Summary:** Governments are steadily increasing scrutiny—especially for advisers and service providers. If you’re involved in providing tax advice or facilitating remittances, now’s the time to get ahead. Stay informed, register or report properly, and integrate new rules into your operations so compliance becomes a habit, not a scramble.