HMRC has fined 194 estate and lettings agents a total of £1.09 million for breaching anti-money laundering (AML) regulations — part of a broader crackdown that saw 336 penalties issued across all sectors.

Main Offence? Trading While Unregistered

The majority of fines were handed out to agents operating without being properly registered with HMRC for AML compliance, a legal requirement for those handling property transactions.

 An HMRC spokesperson said: We are committed to supporting businesses to protect themselves from criminals who prey on their services. That includes taking action against the minority who fail to fulfil their legal obligations under the Money Laundering Regulations
“.”

What This Means for Letting & Estate Agents

  • All relevant property businesses must register with HMRC and maintain AML compliance, including staff training and risk assessments.

  • Failing to do so risks fines, criminal penalties and reputational damage.

Protecting Your Business

Whether you’re a single-branch letting agent or a national firm, AML isn’t optional. Make sure to:

✅ Register with HMRC
✅ Conduct due diligence checks on clients
✅ Keep accurate records
✅ Train your staff regularly

With over £3.2 million in fines issued across all sectors, HMRC’s message is clear: non-compliance is costly.

📎 Need guidance on AML compliance? Visit:
HMRC’s Money Laundering Supervision Guidance