ether ▁conduct ▁by ▁that ▁person ▁or ▁by ▁another ) ▁they ▁may ▁adopt ▁tax ation ▁powers ▁in ▁respect ▁of ▁that ▁person ▁for ▁those ▁tax ▁year ( s ) ▁under ▁Part ▁ 6 . ▁ ▁Having ▁adopted ▁those ▁powers ▁they ▁( in ▁addition ▁to ▁H M ▁Re venue ▁and ▁Custom s ) ▁may ▁issue ▁tax ▁assess ments ▁( cover ing ▁both ▁legit imate ▁and ▁il leg it imate ▁income ▁and ▁g ains ). ▁▁▁ ▁The ▁tax ▁assess ments ▁are ▁subject ▁to ▁appeal ▁in ▁the ▁same ▁way ▁as ▁tax ▁assess ments ▁issued ▁by ▁H M ▁Re venue ▁and ▁Custom s ▁except ▁that ▁it ▁is ▁not ▁necessary ▁for ▁tax ▁assess ments ▁made ▁under ▁Part ▁ 6 ▁to ▁specify ▁the ▁source ▁of ▁the ▁income ▁or ▁g ains ▁ass essed . ▁ ▁App e al ▁is ▁to ▁the ▁First - t ier ▁Trib unal ▁( T ax ▁Chamber ). ▁ ▁An ▁appeal ▁can ▁also ▁be ▁made ▁on ▁the ▁grounds ▁that ▁the ▁ad option ▁of ▁tax ation ▁powers ▁by ▁SO CA ▁was ▁invalid ▁in ▁the ▁app ell ant ' s ▁case . ▁ ▁Part ▁ 6 ▁applies ▁throughout ▁the ▁UK . ▁ ▁Part ▁ 7 ▁Part ▁ 7 ▁of ▁the ▁Act ▁contains ▁the ▁primary ▁UK ▁anti - m oney ▁la und ering ▁legisl ation , ▁including ▁prov isions ▁requiring ▁business es ▁within ▁the ▁' reg ulated ▁sector ' ▁( bank ing , ▁invest ment , ▁money ▁transmission , ▁certain ▁prof essions , ▁etc .) ▁to ▁report ▁to ▁the ▁authorities ▁susp ic ions ▁of ▁money ▁la und ering ▁by ▁customers ▁or