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Lettings Spotlight: financial sanctions reporting obligations
Letting agency businesses across the UK need to work to a new framework from 14 May 2025 under the Sanctions and Anti-Money Laundering Act 2018, and it is vital that every agent understands the rules and adjusts working practices and systems accordingly. Through our vast network of members, some confusion has been highlighted around the rules, and we have produced resources to navigate the requirements.
Fire safety responsibility moves to Housing Ministry
The UK Government has announced a significant change in fire safety oversight, transferring responsibility from the Home Office to the Ministry of Housing, Communities and Local Government (MHCLG) effective from 1 April 2025. The move responds to a recommendation of the Grenfell Tower Inquiry Phase 2 report and puts responsibility for building safety and fire under a single Secretary of State, enabling a more joined-up approach.
New fire safety guidance offers support for managing agents
The UK Government has published a new guide to help make small blocks of flats in England safer from fire. It has practical advice for agents, building managers and owners on improving fire safety in blocks of up to three storeys containing up to six flats and includes new legal requirements introduced through Section 156 of the Building Safety Act 2022.
AML registration failures place hundreds of agents and auctioneers in jeopardy
The most recent compliance and registration penalties published by HM Revenue and Customs reveal 144 agents sanctioned between October and December 2023. Most fines were for failing to register at the required time, and the amounts ranged from £1,250 to £52,000. However, the largest fine on the list is for a High Value Dealer ordered to pay £175,701 for multiple failures in carrying out risk assessments, having the correct policies, controls and procedures, appropriate staff training, conducting due diligence, and record keeping.