Estate agency businesses: registering with HMRC
The Money Laundering Regulations 2007 (the Regulations) were introduced to help prevent "at risk" businesses from becoming targets for money laundering.
One of the safeguards implemented by the Regulations is that it is now a criminal offence to trade as an estate agent unless you have registered for anti-money laundering supervision.
The definition of estate agent is wide, with those carrying out business as purchasing agents and property finders also falling within the scope of the Regulations.
On 1 April 2014, HMRC took over the anti-money laundering supervision of estate agency businesses from the Office of Fair Trading. Estate agents previously registered with the Office of Fair Trading will be automatically registered with HMRC.
Please download the briefing below for a reminder of the registration requirements for estate agency businesses.
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