The guidance covers:
Rules for short-stay accommodation in Wales are becoming more complicated. New licensing standards, tax changes, planning rules and a visitor levy are all being introduced, creating major implications for agents and landlords. For property professionals, this brings both challenges and opportunities — the risk of higher costs, reputational damage, and penalties for non-compliance, but also the chance to stand out by offering well-managed, compliant accommodation that builds trust with guests and demonstrates higher standards.
The Financial Conduct Authority (FCA) will become the Single Professional Services Supervisor (SPSS) overseeing Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) compliance for the legal, accountancy, and trust and company service sectors. HMRC will continue to supervise agents under the Money Laundering Regulations, and firms that are already compliant do not need to make any changes to their existing AML procedures.
Following major changes in global sanctions since 2018, the Office of Financial Sanctions Implementation (OFSI) has sought views on how to update its penalty, disclosure, and settlement frameworks. Reforms should both strengthen deterrence and make it easier for businesses, including property agents, to comply and report breaches confidently.
The Ministry for Housing, Communities and Local Government (MHCLG) is considering the design of transparency and standardisation measures to be implemented in England and Wales under the Leasehold and Freehold Reform Act 2024. In addition, it has outlined new proposals around the fees and charges leaseholders pay, reform of the major works regime, and mandatory qualifications for managing agents.