AML Compliance Support for Estate and Letting Agents
REGISTRATION, RISK ASSESSMENTS AND TRAINING
Estate agency businesses are supervised by HMRC under the Money Laundering Regulations 2017, and HMRC has shown it will publish penalties against agencies that fall short on registration, risk assessment or customer due diligence.
HOW we HELP ESTATE AND LETTING AGENTS
WHAT HMRC EXPECTS
HMRC expects registration for anti-money laundering supervision, a written risk assessment covering your business, clients and transaction types, documented policies and procedures, customer due diligence on both buyer and seller before the transaction proceeds, a nominated officer for suspicious activity reporting, and trained staff with records to prove it. Falling behind on any of these is the most common reason agencies come unstuck at inspection.
Risk assessments and AML policies. Written for estate and letting agency work: sales, lettings, and the transaction types your branches actually handle.
Customer due diligence procedures. Procedures your negotiators can follow: who to verify, when, what evidence is enough, and what to do when a buyer's funds do not have a clear story.
Registration and supervision support. For agencies registering with HMRC for the first time, or tidying up an existing registration.
Staff training. Delivered to branch teams, with the attendance and content records HMRC will want to see.