Anti-Money Laundering (AML) compliance has always been a legal obligation for UK accountancy firms. But as regulatory expectations continue to increase, many practices are realising that simply “ticking the box” is no longer enough. 

Today’s firms need AML processes that are efficient, consistent, and capable of standing up to regulatory scrutiny whenever required. 

The question is: would your practice be able to confidently demonstrate every AML decision if you were reviewed tomorrow? 

AML Is Becoming a Practice-Wide Challenge 

For many firms, AML is still managed through a mixture of spreadsheets, paper records, disconnected systems, and manual reminders. 

While these approaches may have worked in the past, they often create unnecessary risks: 

• Inconsistent client due diligence  
• Missing or incomplete audit trails  
• Time-consuming manual record keeping  
• Difficulty evidencing decisions during inspections  
• Ongoing monitoring becoming an administrative burden  

As client numbers grow, these challenges become even harder to manage. 

Rather than supporting compliance, AML can quickly become one of the biggest operational bottlenecks within a practice. 

From Compliance Burden to Business Confidence 

The most efficient firms are beginning to view AML differently. 

Instead of treating it as a standalone compliance task, they’re embedding AML throughout the client lifecycle; from onboarding and identity verification to ongoing monitoring and risk reviews. 

This creates several important benefits: 

• Faster client onboarding  
• Consistent compliance processes  
• Stronger audit trails  
• Better visibility of higher-risk clients  
• Greater confidence during regulatory inspections  

When AML becomes part of everyday workflows, firms spend less time chasing paperwork and more time serving clients. 

What Regulators Want to See 

Whether you’re supervised by HMRC or a professional body, regulators increasingly expect firms to demonstrate more than simply completing identity checks. 

They want to see: 

• Documented risk assessments  
• Evidence of ongoing monitoring  
• Consistent client due diligence  
• Clear decision-making processes  
• Complete and accessible audit trails  

Having the right technology and workflows in place can make responding to these requests significantly easier. 

Discover a Smarter Approach to AML 

To help firms strengthen their AML processes, Capium has partnered with Veriphy for a practical live webinar focused on building a more efficient, audit-ready approach to compliance. 

Rather than covering theory alone, this session will demonstrate how integrated AML workflows can reduce administration, improve consistency, and help firms stay prepared for regulatory reviews. 

What You’ll Learn 

During the webinar, you’ll discover: 

• Why AML is becoming an increasing priority for UK accountancy firms  
• Common compliance gaps regulators frequently identify  
• How to streamline client onboarding and due diligence  
• Best practice for ongoing monitoring and risk reviews  
• How stronger audit trails can reduce inspection risk  
• Ways to simplify AML through integrated technology  

You’ll also see a live demonstration of how Capium and Veriphy work together to support: 

• Identity verification  
• AML screening  
• Evidence collection  
• Audit-ready record keeping  
• Ongoing client monitoring  
• Who Should Attend? 

This webinar is ideal for: 

• Accountants  
• Bookkeepers  
• Practice owners and partners  
• Compliance managers and MLROs  
• Firms preparing for AML reviews or inspections  
• Practices looking to improve onboarding and compliance workflows  

Join Us Live 

AML doesn’t have to be an administrative burden

With the right processes and technology, it can become a structured, efficient part of your practice that reduces risk, improves consistency, and gives you greater confidence when regulators come calling. 

AML Beyond Compliance: Building a More Confident, Audit-Ready Practice 

📅 Wednesday 15 July 2026
🕚 11:00am BST
🎥 Live Webinar + Q&A 

Register today and discover how Capium and Veriphy can help your practice build smarter AML workflows and stay audit-ready. 

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For many UK accounting firms, billing clients is one of those essential tasks that’s often more time-consuming than it should be. Chasing payments, matching transactions to invoices, and managing multiple payment systems can eat into valuable time that could be better spent on client work. 

Capium Pay changes that. As an embedded payment solution for accountants, it’s designed to integrate directly into your workflow, making client billing faster, more secure, and far more efficient. 

In this article, we’ll explore how Capium Pay delivers tangible benefits for UK firms — from enabling instant bank transfers and automated invoice reconciliation to providing a streamlined client payment portal that reduces friction and improves cash flow. 

The Problem with Traditional Client Billing 

Client billing in accountancy often involves a patchwork of systems: one for generating invoices, another for receiving payments, and sometimes even manual processes for reconciliation. Common pain points include: 

• Delayed payments due to inconvenient payment options 

• Manual reconciliation between bank statements and accounting records 

• Higher transaction fees from traditional card processors 

• Time spent chasing overdue invoices rather than providing advisory services 

These inefficiencies not only impact firm profitability but can also affect client relationships. 

What Makes Capium Pay Different? 

Capium Pay is built specifically for UK accounting professionals and fully integrates with the Capium platform. It eliminates the disconnect between invoicing, payments, and reconciliation. 

Here’s what makes it stand out: 

1. Embedded Payment Functionality

With Capium Pay, clients can pay directly through a secure client payment portal as soon as they receive an invoice. This reduces payment friction and speeds up the process, leading to better cash flow for your firm. 

2. Instant Bank Transfers

No more waiting days for payments to clear. Capium Pay supports instant bank transfers between UK accounts, meaning funds arrive in your firm’s account within minutes, not days. 

3. Automated Invoice Reconciliation

One of the biggest time drains for accountants is manually matching payments to invoices. With Capium Pay’s automated invoice reconciliation, transactions are linked to the correct invoices automatically, reducing admin time and minimising the risk of errors. 

4. Cost-Effective Payment Processing

Traditional card processors often charge significant fees per transaction. Capium Pay offers cost-effective payment processing designed with accountants in mind, keeping more money in your firm’s pocket. 

How It Works in Practice 

Capium Pay’s embedded approach means it works seamlessly within the same platform you already use for your accounting tasks. 

• Generate an Invoice in Capium – As usual, you create and send the invoice to your client. 

• Client Pays via Portal – The client clicks the payment link, chooses their preferred method (including instant bank transfer), and completes payment in seconds. 

• Automatic Reconciliation – The payment is matched to the invoice automatically, with your ledgers updated instantly. 

The result? Less time chasing payments, less admin, and a faster, smoother experience for both you and your clients. 

Why UK Accounting Firms Are Adopting Capium Pay 

Improved Cash Flow 

The combination of instant bank transfers and fewer payment barriers means firms get paid faster, often within hours of invoicing. 

Reduced Administrative Burden 

Automating payment reconciliation can save hours of manual work each week, allowing your team to focus on billable and strategic tasks. 

Better Client Experience 

Clients appreciate the convenience of paying online without needing to set up separate bank transfers or call for card payments. 

Integration with Capium’s Ecosystem 

Capium Pay isn’t just a standalone tool — it’s part of a fully integrated suite of cloud-based accounting solutions. That means payment data flows directly into your practice’s bookkeeping and reporting modules, creating a unified, real-time view of your finances. 

This integration is particularly valuable for firms looking to: 

• Track revenue in real-time 

• Automate follow-up on overdue invoices 

• Provide accurate, up-to-date financial reports to management 

Security and Compliance at the Core 

Handling client payments comes with strict responsibilities. Capium Pay uses bank-level encryption and complies with all relevant UK payment regulations to ensure that both firm and client data remain secure. 

Additionally, the built-in audit trail means you have full visibility of every transaction, supporting transparency and compliance. 

A Step Towards the Digital Future of Accounting 

The UK accounting profession is evolving rapidly, with clients expecting faster, more convenient services — including how they pay for them. Capium Pay positions your firm to meet these expectations while reducing your operational workload. 

With embedded payment solutions for accountants becoming the norm, adopting Capium Pay now means you’re ahead of the curve. 

A Better Way to Work, and Get Paid

From instant bank transfers and automated invoice reconciliation to a client-friendly payment portal, Capium Pay transforms the way UK accountants manage billing. By embedding payment functionality directly into your workflow, it delivers faster cash flow, reduced admin, and a smoother experience for clients. 

For firms looking to modernise their payment processes and free up time for higher-value work, Capium Pay is more than a payment solution; it’s a catalyst for better business. 

The post Capium Pay: The Embedded Payment Solution Revolutionising Client Billing appeared first on capium.

Starting from 25 February 2025, businesses and individuals who conduct anti-money laundering (AML) supervised activities, such as company formation agents, solicitors, accountants, and chartered secretaries, will need to register as Authorised Corporate Service Providers (ACSPs) to carry out identity checks for clients with Companies House.

What Does an ACSP Do?

ACSPs play a crucial role in maintaining financial integrity by conducting identity checks and ensuring compliance with AML regulations. They may also file documents on behalf of clients in the future.

How to Become an ACSP

To qualify as an ACSP, your business must be supervised by one of the 25 AML supervisory bodies in the UK, such as:

• HMRC
• Financial Conduct Authority (FCA)
• The Insolvency Practitioners Association

You can find a full list of supervisory bodies on GOV.UK^[1].

Registering with Companies House

From 25 February 2025, you'll need to use the new 'Apply to register as a Companies House authorised agent' service to become an ACSP. Here's what you need to know:

• Who should apply? Individuals in senior roles, such as directors or sole traders.
• What's required?
  • Complete identity verification.
  • Provide details about the business.
  • Pay a £55 registration fee.
• What happens after registration?
  • You'll receive a digital account and unique identity number.
  • This will allow you to file information and perform identity checks for your clients.
  • Additional team members can be added to the authorised agent account after approval.

Upcoming Guidance

To assist with this transition, Companies House will publish detailed guidance on GOV.UK in early February 2025.

By preparing early and completing your ACSP registration, you can ensure compliance and seamless operations for your business. Stay tuned for further updates from HMRC here^[2].

Frequently asked questions

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In today’s fast-evolving accounting landscape, technology is the key to efficiency, compliance, and superior client service. For accountants seeking a feature-rich, affordable, and future-proof solution, Capium is the ultimate choice. Here’s why switching to Capium’s integrated Cloud Accounting Suite is the smartest investment your practice can make.

1. All-in-One Cloud-Based Accounting Software

Capium eliminates the chaos of juggling multiple systems. With fully integrated modules for Bookkeeping, Payroll, Self-Assessment, Corporation Tax, Accounts Production, and Practice Management, Capium brings everything you need into one seamless platform.

Because it’s 100% cloud-based, you can securely access data from anywhere, on any device, giving you the flexibility to manage your practice in today’s remote and hybrid work environments. Forget switching between disconnected tools—Capium saves you time and reduces the risk of errors.

2. Affordable Pricing Without Sacrificing Features

Capium delivers enterprise-level functionality at a price tailored to small and medium-sized practices. Its cost-effective pricing ensures you get maximum value for your investment, allowing you to focus resources on growing your practice and delivering exceptional client service.

3. Effortless Compliance with Making Tax Digital (MTD)

Stay ahead of HMRC’s ever-changing regulations with Capium’s MTD-ready platform. Whether it’s VAT, Self-Assessment, or Corporation Tax, Capium automates compliance, making submissions easy, fast, and error-free. Say goodbye to manual processes and confidently tackle quarterly reporting and other MTD requirements.

4. Built for Modern Accounting Practices

Capium is designed with today’s accountants in mind. Its intuitive interface simplifies workflows and boosts productivity, while its adaptability ensures it meets your unique practice needs. No outdated systems—just modern, user-friendly software that helps you deliver better results for your clients.

5. Scalable for Growing Practices

Whether you’re a solo accountant or part of a growing firm, Capium grows with you. Its flexible design supports practices of all sizes, offering tools like automated reminders, task tracking, and advanced reporting to help manage your expanding workload and client base.

6. Streamlined Collaboration and Communication

Client relationships are the heart of your practice. Capium’s built-in features, including secure document sharing, e-signatures, and client portals, simplify collaboration and enhance the client experience. These tools ensure efficient communication while showcasing your practice as innovative and tech-savvy.

7. Dedicated Onboarding and Support

Switching software can feel overwhelming, but Capium makes it seamless. From personalised onboarding to ongoing support, their team is committed to your success. You’ll have all the guidance you need to maximise the platform’s potential and hit the ground running.

8. Data-Driven Insights for Smarter Decisions

With real-time reporting and analytics, Capium empowers you to make informed, strategic decisions. Monitor performance, identify growth opportunities, and improve profitability with actionable insights tailored to your practice’s goals.

9. Future-Proof Your Practice

The accounting world is evolving fast—don’t get left behind. Capium ensures your practice is ready for the future, whether it’s navigating new compliance rules, adopting automation, or transitioning to digital-first processes. With Capium, you’re always one step ahead.

10. Now is the Time to Make the Switch

In a competitive accounting industry, staying efficient, compliant, and client-focused is critical. Capium offers everything you need to thrive, from cutting-edge integrations to affordability and user-friendly features.

Investing in Capium isn’t just about upgrading software, it’s about transforming your practice for long-term success.

Ready to Future-Proof Your Practice?

Experience the power of Capium for yourself. Book a demo today or start a free trial to discover how Capium can revolutionise your workflow and elevate your practice.

Switch to Capium, the software solution built for accountants of today, and tomorrow.

The post Why Switching to Capium is the Best Investment for Modern Accounting Practices appeared first on capium.

In the constantly shifting terrain of Anti-Money Laundering (AML) regulations, accountants and bookkeepers find themselves traversing a jungle teeming with risks. Just as in the wild, some clients resemble lions, while others resemble frogs. Understanding how to manage both high-risk lions and low-risk frogs is crucial for ensuring compliance and safeguarding against financial crime. 

Identifying the Lions and Frogs 

In this jungle, our lions represent high-risk clients. They possess characteristics that make them potentially more susceptible to money laundering or terrorist financing activities. These characteristics might include complex ownership structures, involvement in high-risk jurisdictions, or operating in industries prone to financial crime. 

Conversely, our frogs embody low-risk clients. They typically exhibit straightforward financial behaviour, have transparent ownership structures, and operate within low-risk jurisdictions and industries. 

Taming the Lions: Managing High-Risk Clients 

Encountering a lion in the jungle can be daunting, but with the right tools and strategies, it’s possible to mitigate the risks they pose. Firstly, robust customer due diligence (CDD) processes are essential. This involves thoroughly researching and verifying the identity of high-risk clients, understanding their business activities, and assessing the source of their wealth. 

Furthermore, implementing enhanced due diligence (EDD) measures is akin to strengthening the perimeter around your campsite. This may involve ongoing monitoring of transactions, conducting regular reviews of the client’s activities, and scrutinising any unusual patterns or red flags. 

Just as a lion tamer establishes boundaries and controls within the circus ring, instituting transaction monitoring systems and suspicious activity reporting mechanisms can help detect and prevent illicit financial activities. Additionally, establishing clear policies and procedures, coupled with robust staff training, ensures that everyone in the institution is equipped to handle high-risk clients effectively. 

Embracing the Frogs: Managing Low-Risk Clients 

While encountering a lion demands caution and vigilance, encountering a frog offers a sense of security. Low-risk clients may not pose the same level of threat, but that doesn’t mean they should be overlooked. Instead, accountants and bookkeepers should adopt a risk-based approach, focusing resources where they are most needed. 

For frogs, simplified due diligence (SDD) procedures may suffice. These streamlined processes allow for quicker onboarding and reduce administrative burdens, without compromising compliance standards. However, it’s important to periodically review the risk profile of even low-risk clients to ensure that they haven’t undergone any significant changes that might elevate their risk status. 

Navigating the Jungle: Striking the Balance 

In the jungle of AML risk management, accountants and bookkeepers must strike a delicate balance between caution and efficiency. While lions may pose a greater threat, effective mitigation measures can minimise the risks they present. Conversely, while frogs may seem harmless, prudent oversight is necessary to maintain compliance standards. 

Just as a skilled navigator relies on a compass to chart their course through the wilderness, accountants and bookkeepers must rely on robust risk assessment frameworks and regulatory guidance to guide their AML efforts. By understanding the unique characteristics of high-risk lions and low-risk frogs, and implementing appropriate risk management strategies, institutions can navigate the jungle of AML risk with confidence. 

With this strategic approach, accountants and bookkeepers can effectively manage the diverse array of clients they encounter in the AML landscape, ensuring compliance while mitigating the risks posed by both lions and frogs alike. 

Read about Capium’s AML.

By Sujay Patel, The IAB 

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Are you up-to-date with the latest Anti-Money Laundering (AML) regulations? Do you want to ensure your business remains compliant while streamlining your processes? If so, we invite you to join our upcoming webinar, “Strengthening AML Compliance with Capium and Veriphy” where we will delve into the essential strategies and tools you need to stay ahead in the evolving landscape of AML compliance. 

During this comprehensive webinar, our expert speakers will cover: 

• Key AML regulations and their implications for your practice. 
• How Capium’s cutting-edge accounting software integrates seamlessly with Veriphy’s verification solutions to enhance compliance. 
• Practical tips for implementing effective AML policies and procedures. 
• Real-world case studies showcasing successful AML strategies. 

With the increasing complexity of AML regulations, staying informed and equipped with the right tools is more important than ever. By attending this webinar, you will gain valuable insights and practical knowledge to ensure your business remains compliant and efficient. 

Webinar Details: 

Date: Wednesday 26th June 2024 

Time: 12PM 

Duration: Approximately 45 minutes 

Hosted by: Capium & Veriphy 

Speakers: 

Nicholas Cheyne, Director of Product & Growth, Capium 

Adam Watts, Account Manager, Veriphy 

Don’t miss out on this opportunity to enhance your AML compliance strategies. Register now to secure your spot! 

For any inquiries, please contact us at 020 3322 5578. We look forward to seeing you there! 

Stay compliant, stay ahead with Capium and Veriphy. 

The post Strengthening AML Compliance with Capium and Veriphy appeared first on capium.

New AML Checks Introduced

We are pleased to announce that we have released three new checks within the AML area.

With this release, you are now able to perform:

• Company Check 
• Credit Check
• International and Domestic ID Checks

The 3 New enhancements are as follows: 

UK Company Check – £6 + VAT per check – includes the following where available: company summary, identification, credit score, credit limit, contact information, director details, share capital structure, group structure, financial statements, Profit and loss account, balance sheet, ratios, negative information (CCJs, bankruptcies), payment information, company status (dissolution, compulsory strike off, winding up etc), filing history (returns, appointments etc), web address.

Credit Screen – £2 + VAT per check – screens UK residents for CCJs, bankruptcies, IVAs and Scottish equivalents.

International ID Check – £2 + VAT per check – checks non-UK residents against HMT, UN, EU and OFAC sanctions lists and global PEP lists (including UK domestic), with optional document checks including passports and EU ID cards. This check can also be used if you simply wish to validate documents.

 Want to see it in action? Join our webinar on Thursday 26th October at 12.00pm.

Register Here.

The post Capium announces new AML enhancements appeared first on capium.

1. Legal and regulatory compliance: As you are all aware, AML processes are mandated by law in many jurisdictions to combat money laundering and financing. The legal obligation that Accountants have to implement AML procedures to ensure compliance with relevant laws and regulations. Failure to comply can result in severe penalties, including fines, loss of professional licence, or even criminal charges.

As per HMRC, if you provide any of the following services you need to register for AML supervision with an accounting body or HM Revenue and Customs themselves. 

• auditors who carry out statutory audit work
• accountants who provide accountancy services to clients
• tax advisers and consultants who provide advice to clients about their tax affairs
• payroll agents that provide accountancy services or tax advice
• customs practitioners, freight forwarders and similar businesses if they provide accountancy or tax services
• professional bookkeeping services

If you perform any of the above services, then you will need to register with any of the main supervisory bodies below(accurate at the time of writing this article). 

2. Protecting the integrity of the financial system: Money laundering involves disguising the origins of illicit funds and making them appear legitimate. As financial professionals, Accountants, play a critical role in safeguarding the financial system. By implementing robust AML processes, accountants can help prevent their clients from unknowingly becoming involved in money laundering activities and contribute to maintaining the overall integrity of the financial system.
3. Mitigating reputational risks: Accountants and accounting Practices have a reputation to uphold. Involvement in money laundering activities can damage their professional standing and credibility. By implementing AML processes, accountants demonstrate their commitment to ethical practices, risk management, and compliance, which can enhance their reputation and attract clients who prioritise integrity and accountability.
4. Protecting clients’ interests: AML processes help Accountants protect the interests of their clients. By conducting due diligence on clients and their transactions, accountants can identify suspicious activities or red flags associated with money laundering. This enables them to take appropriate action, such as reporting suspicious transactions to the relevant authorities, safeguarding their client’s financial well-being, and preventing potential legal or financial repercussions.
5. Enhancing risk management: AML processes form an important part of a comprehensive risk management framework. By implementing effective AML controls, Accountants can identify and assess the risks associated with money laundering, develop mitigation strategies, and enhance their ability to detect and prevent illicit activities. This proactive approach strengthens the accountants’ overall risk management capabilities, enabling them to identify potential threats and protect their client’s interests.

In summary, having an AML process in place is essential for accountants to ensure legal compliance, protect the integrity of the financial system, mitigate reputational risks, safeguard clients’ interests, and enhance risk management capabilities. By establishing robust AML procedures, accountants contribute to the fight against money laundering and help maintain trust and confidence in the profession.

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