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Private Tenancies Act Section 8 coming into force on 1 September
The Smoke, Heat and Carbon Monoxide Alarms Regulations (Northern Ireland) 2024 set the standards for the number and type of alarms that must be installed in privately rented properties. Once they come into force, letting agents and landlords will be responsible for installing and keeping alarms sufficient in any property they rent out.
Labour's Lammy sets sights on tackling financial crime
In a keynote speech at a conference held by the Institute for Public Policy Research (IPPR) on 21 May 2024, Shadow Foreign Secretary David Lammy MP, announced policies to combat corruption, including increased registration requirements for trusts which are widely used to disguise the ownership of assets such as property.
Ending two-tier AML system would close gaps in sector defences
In a letter to the Chancellor of the Exchequer, Propertymark has again laid out the benefits of extending full anti-money laundering (AML) supervision to all letting agents, including improved compliance with Money Laundering Regulations (MLRs) and solving the ongoing issue with access to pooled client accounts which has hampered agents for far too long.
Over 250 agents fined for AML non-compliance
HM Revenue and Customs (HMRC) has announced that fines totalling over £1.6 million have been issued for a variety of breaches including missing documentation, incomplete due diligence, and failures to recognise specific risks, such as Politically Exposed Persons, high risk jurisdictions, companies, trusts and sanctions.