Latest News

How agents can help vulnerable customers during self-isolation

03 June 2020

Some customers who are self-isolating because they are higher risk may face other challenges apart from the direct risk and impact of the virus, Agents are a key part of local communities and can provide housing and support to those in need. Read More...

Pearson VUE test centres now open for Propertymark Qualifications exams in England

02 June 2020

Pearson VUE test centres have now opened with limited capacity allowing Propertymark Qualifications candidates to sit their exams. There are strict health and safety measures in place to ensure everyone's safety including reduced seat numbers so that social distancing can be followed. 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