Iamproperty smell the difference whitepaper SMC V003 - Flipbook - Page 3
For any Estate Agent the
complex obligations of
HMRC’s anti-money laundering
requirements are both stressful
and difficult, and ensuring your
agency complies is even more
challenging. Failing to meet the
ever-changing requirements
of HMRC can result in large
penalties, so I encourage Estate
Agents to make more use of
technology-based systems
that let them to get back to the
business of selling houses.
I come across many Estate
Agents who think that they’re
doing a good job and trying
their best. However, there are
still holes in what they are
delivering in relation to what
HMRC is expecting.
Foreword from
David Beaumont,
compliance
expert working in
partnership with
iamproperty
3
Some Estate Agents still believe
an online ID verification will
meet the HMRC obligation. In
some instances, this will be fine,
however with high risk clients
this is not enough and will
leave the Estate Agent open to
HMRC fines. All Estate Agents
should undertake a good risk
assessment on every buyer
which will generate a risk profile.
This will then indicate the next
steps depending on the risk of
the individual.
I have many years’ experience
supporting Estate Agents with
their compliance. I have yet
to come across a product
that supports Estate Agents
in the way that iamproperty
compliance does – from start
to finish.
Foreword from David Beaumont,
Compliance Matters
