FAQs: Economic Crime and Corporate Transparency Act 2023

HM Revenue and Customs (HMRC) has issued hundreds of thousands of pounds in new fines to property agents for failures to comply with anti-money laundering (AML) regulations, reinforcing the consequences of getting compliance wrong. The latest enforcement action covers the 2025–26 reporting period and includes 170 penalties issued to estate agency businesses, totalling more than £835,000. Letting agents are also within HMRC’s supervisory scope where transactions meet the required thresholds.

All UK sanctions designations maintained by the UK Government will be consolidated into an official list and updated in one place. This is a significant operational change for property agents, auctioneers and other regulated businesses, which should make checking clearer and more straightforward. Sanctions compliance are part of wider financial sanctions and anti-money laundering obligations, and failures can carry serious legal and reputational consequences.

New regulations have been laid in the Scottish Parliament which, if passed, will place clearer and more time-bound duties on landlords and agents to investigate and address damp and mould in both private and social rented homes. Clear standards, realistic timescales and consistent enforcement are essential if these reforms are to improve housing conditions without reducing supply or creating unintended consequences.

The Sentencing Council has launched a 12-week public consultation on new sentencing guidelines for housing offences, including unlawful eviction, unlawful harassment, Houses in Multiple Occupation (HMOs) and housing standards breaches. For property agents, the proposals underline the importance of compliance, record-keeping and professional standards and present a clear opportunity to influence how the guidance is shaped.