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Propertymark has responded to HMRC’s consultation on plans to increase the fees it charges businesses it supervises under the Money Laundering Regulations, warning that higher costs could affect small, independent agents hardest and risk undermining compliance. Proposals include raising the annual premises fee from £300 to £400, reintroducing a £400 application fee, and restructuring penalty charges into a new sanction regime with fines of up to £2,000.
This guidance note helps members understand the steps they should take when a client requests payments to be made into a new account. This will support agents in protecting landlords who may have been compromised and in avoiding potential penalties from HMRC.
A BBC investigation has revealed that criminals used the UK Government’s unclaimed estates list to commit probate fraud. The list, published on the Gov.uk website, included details of around 6,000 estates left by people who died without a will or known heirs. It was taken offline in July 2025 after evidence showed fraudsters used it to submit fake wills and claim millions of pounds in assets.
194 agents have incurred penalties totalling over £1 million for breaches identified by HM Revenue and Customs between October 2024 and March 2025. The vast majority are a result of failing to register for Anti-Money Laundering (AML) supervision on time – the most common reason agents are fined. This highlights how important it is for property professionals to understand the rules, apply correctly, and maintain an up-to-date registration with HMRC.