Register Your Agency With HMRC

With just weeks to go until the deadline, letting agents must register themselves with HMRC to remain AML compliant. By June 10th 2021, any letting agent, residential or commercial who lets property at or above 10,000 euros or £8,600 or more per month must register. Of course these changes came in last year under the Fifth Money Laundering Directive bringing agents in line with estate agents, so many letting agents will already be compliant. Further information can be found on HMRC’s website – Registering an agency is much more than simply clicking register, agents must put certain documents in certain places in order to remain anti-money laundering compliant. As well as this, there are clear, defined procedures that need to be put in place in order for agents to remain completely compliant. Agents must be aware of customer due diligence, the roles and responsibilities of their staff, whilst an …

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Estate Agent Tips

How To Start In Property

What do I need to do to start operating as an estate agent? Should you work in lettings and wish to go into sales the main thing you should consider in terms of compliance is your AML procedure. As well as compliance, we recommend spending some time researching the sales procedure to ensure you’re fully aware of how to successfully complete a sale before it falls through. Our guide to the moving process is a useful tool you can use, click here to read it. What do I need to do to start operating as a letting agent? If you’re considering becoming a letting agent you should take into account your compliance procedure. With over 150 laws, incorrectly letting a property could lead to a fine or potentially prosecution. We recommend becoming qualified through ARLA to ensure you have the essential knowledge to keep you compliant whilst provide you with …

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