Let’s face it, keeping up with AML obligations can feel overwhelming at times, especially when it comes to the finer details like Regulation 30A. But don’t worry, that’s what we’re here for.
This blog will break it down clearly and practically, so you feel confident in what’s required and how to handle it. If you’re a Trust or Company Service Provider (TCSP), this one’s especially for you.
What Is Regulation 30A?
Regulation 30A is a legal requirement that applies to “obliged entities”, this includes TCSPs, accountants, estate agents and more. In a nutshell, it means that if you spot a material discrepancy between what your client tells you about their Person with Significant Control (PSC) and what’s shown on Companies House, you must report it.
What Counts as a Material Discrepancy?
Material discrepancies are more than just a typo or a missing postcode. They include things that could hint at:
✅ Money laundering
✅ Terrorist financing
✅ Concealment of a customer’s true business activities
Some common examples include:
- A PSC is listed incorrectly, or not at all
- The nature of control (e.g. ownership or voting rights) is wrong
- Incorrect date of birth or nationality
- A beneficial owner who should be registered, but isn’t
💡 Flex Tip: Spelling mistakes and small address mismatches don’t count as material, no need to report those.
When Do You Need to Report?
There are two key points when Regulation 30A kicks in:
- Before starting a business relationship – for example, before providing services
- During ongoing monitoring – any time you review a client’s details and spot a new issue
This isn’t a one-off task, it’s an ongoing duty. So, make sure discrepancy checks are part of your regular due diligence process.
How Do You Report a Discrepancy?
It’s simpler than you might think:
- Head to the Companies House reporting tool
- Enter the company number, explain the discrepancy, and provide the correct info
- Submit the report as soon as is reasonably possible
💡 Flex Tip: We’ve created a Regulation 30A Discrepancy Reporting Template to help you, just get in touch if you’d like a copy.
What Happens If You Don’t Report?
Ignoring this duty isn’t an option. Failing to report a material discrepancy can trigger regulatory action from your supervisory authority (HMRC for many TCSPs). More importantly, it’s a missed opportunity to spot and prevent financial crime.
Final Thoughts
At Flex AML, we know that regulations can sometimes feel like a minefield, but with the right tools and support, they don’t have to be. Regulation 30A is about transparency and trust, and with a solid system in place, you can stay compliant without the stress.
📌 Need help reviewing your procedures or training your team? Let’s have a chat, we’re here to support you every step of the way.
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