Disciplinary outcome: Phillip Hill
Order by consent
In the matter of
Mr Phillip Hill MAAT
Business name
Hill & Co
Membership number
253418
Date
27 October 2025
Misconduct
- He did not comply with his obligations under the Money Laundering Regulations in force while providing accountancy or bookkeeping services on a self-employed basis. Specifically, he failed to:
- conduct a regular compliance review of his firm’s anti-money laundering (AML) policies, controls, and procedures; and/or
- undertake any or any effective AML training; and/or
- effectively perform and document client due diligence for one or more clients
- He failed to issue letters of engagement in full compliance with paragraph 5 of AAT’s Client Care Policy.
- He failed to hold client funds in accordance with one or more provisions of AAT’s Clients’ Money Policy.
- He retained commissions without providing written notification to clients of the amounts received, thereby contravening paragraph 240.6 of AAT’s Code of Professional Ethics.
Finding
By reason of the conduct set out in the Allegations above, Phillip Hill is guilty of misconduct pursuant to Article 21 of AAT’s Articles of Association.
Order
- Reprimanded for a period of two years
- Fined £2,000
- Deemed unfit to hold fellow member status for a period of two years
- Warned about his future conduct.
Consent
The decision of the Investigations Team shall stand as Order of the Association pursuant to Regulations 5.2 and 5.3 of the Disciplinary Regulations.
