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This publication is available at https://www.gov.uk/government/publications/april-2014-supervision-of-estate-agency-businesses-by-hmrc/april-2014-supervision-of-estate-agency-businesses-by-hmrc
Supervision of Estate Agency Businesses
On 1 April 2014 HM Revenue and Customs (HMRC) became the supervisor of Estate Agency Businesses under the Money Laundering Regulations 2007.
For more information about the regulations read the introduction to the money laundering regulations.
HMRC has published guidance for Estate Agency Businesses on how to comply with their obligations under the money laundering regulations and related legislation.
The guidance explains what businesses must do to protect themselves from the risks of money laundering and terrorist financing and how to report suspicious activity.
Registering for Anti Money Laundering Supervision
If you were already registered with the Office of Fair Trading (OFT), you’ll have automatically transferred to HMRC. You don’t need to do anything - The Anti Money Laundering Supervision Team will contact you after 1 April 2014 and tell you how to renew your registration.
If you aren’t already registered and should be, you should complete form MLR100.
You should be registered if you’re engaged in estate agency work as defined by section 1 of the Estate Agents Act 1979. This includes:
- residential and commercial estate agency
- estate agents who represent either the seller or the buyer (relocation agents/property finding services) - from the 1 October 2012 this includes an estate or interest in land outside the UK
Your application form must be sent to the Anti Money Laundering Supervision Team at:
HMRC Anti Money Laundering Supervision
21 Victoria Avenue
Southend on Sea
For guidance about:
- whether you need to register with HMRC
- when and how to register
- what fees you need to pay
Fees for registering
The annual fee is £110 per premise which you must pay in advance. Payment per premises will remain capped at 20 until the next Anti Money Laundering Supervision Team fee review in 2014. Everyone who transfers on 1 April 2014 will pay £110 per premise for the following 12 months.
New businesses that register after 1 April 2014 will renew on the 12 month anniversary of their registration date. If you should have been registered but have failed to do so, you will be charged fees for each year you should have been, and charged penalties in line with our current guidance.
To find out about the Anti Money Laundering Supervision Penalty Guidance see the appeals, penalties, and money laundering regulations guide.
The public register of Estate Agency Business has been merged with the existing Money Service Business register on the HMRC website - Supervised Businesses Register.