|HMRC clampdown on rogue estate agents||GENERAL|
HMRC and National Trading Standards have agreed new procedures which will target the problem of scam estate agents. The agreement became effective from January 2017 and makes it more difficult for non-compliant estate agency businesses to operate outside the law.In a vaguely worded press release, HMRC says the new procedures with the estate agency team at National Trading Standards will ‘enhance and ease’ the current flow of information on estate agency businesses between both parties. The agreement will target those who are trading without registering appropriately as well as those who may
not be meeting their obligations.
HMRC is responsible for supervising a number of businesses including Estate Agency Businesses to ensure that they register for anti money laundering supervision. This announcement appears to suggest that some estate agency businesses have fallen through the cracks and should ensure better monitoring and compliance of this sector.
February 27th, 2017