Latest News

New Job Support Scheme announced by the Chancellor

24 September 2020

In a speech in the House of Commons today, 24 September, Rt Hon Rishi Sunak MP, outlined the UK Government’s next stage of the economic plan to protect jobs over the winter period with the announcement of a new Job Support Scheme. Read More...

New Chief Executive Officer of Propertymark appointed

24 September 2020

Tim Balcon joins Propertymark today, 24 September, as Chief Executive Officer, which is a newly created role, bringing over 20 years’ experience in membership and sector organisations. Read More...

Anti-Money Laundering (AML) deferral payment offered by HMRC

Friday 22 May 2020

Businesses whose annual fees for money laundering supervision are due between 1 May and 30 September 2020 may apply to HMRC for a six-month break or deregister if they have ceased trading due to Coronavirus.

Propertymark encourages agents to investigate what action is best for them but cautions that de-registering a business means that all trading must have stopped, and businesses will need to be re-approved if they wish to start trading again.

If your business has continued to trade throughout

Businesses that continue to operate must remain registered with HMRC for money laundering supervision. All obligations under the Money Laundering Regulations (MLR) must still be met if the business is trading.
HMRC will issue businesses with a reminder when payment is due, and businesses may either:

  • pay in the normal way
  • pay at any time up to six months from the original due date

If your business has temporarily suspended trading

You may choose to deregister from HMRC supervision if you have temporarily closed your business due to Coronavirus and stopped all MLR activity. You will need to make a new application to re-register your business if you resume trading, and you will not be able to trade again until the new application has been approved.

View details

PROPERTYMARK RESOURCES

Propertymark has a range of resources on AML including an online training course as well as Health Checks for members to make sure that they are up to date on their obligations and using best business practice.

AML resources