On June 27, 2024, the UK Office of Foreign Sanctions Implementation issued General License INT/2024/4888228 under all UK Autonomous Sanctions Regulations, to authorize Persons Designated by the United Kingdom (“UK DPs), or Persons acting on behalf of a UK DP, to make certain Permitted Payments to Statutory Auditors for Statutory Audits. The general license also enables UK DPs to repay Persons acting on their behalf in the amounts paid for the Statutory Audit.
Statutory Auditors who receive payments under General License INT/2024/4888228 are required to email HM Treasury the following details within 14 days of receiving payment: the name of the DP, the amount(s) paid, the relevant invoice(s) paid, and the date of payment. UK DPs, Statutory Auditors and Persons who utilize this general license are also required to keep accurate and complete records of all related transactions for a minimum of six years.
General License INT/2024/4888228 | Publication Notice – General License INT/2024/4888228