HMRC
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Latest property news
Landlords and agents given extra two years to get ready for tax changes
The Government says Making Tax Digital rules will not now apply until April 2026.
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Housing Market
WARNING: Chancellor’s CGT changes could cause buy-to-let fire sale
Changes to Capital Gains Tax (CGT) announced in last week’s budget could cause a buy-to-let fire sale as landlords rush to ditch properties.
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Latest property news
EXCLUSIVE: Mortgage senior says ‘it’s time to regulate estate agents’
Robert Sinclair, the chief executive of the Asssociation of Mortgage Intermediaries (AMI), says the latest batch of fines to agents from HMRC means that the time has surely come to regulate the sector. Speaking exclusively to The Neg, Sinclair (pictured) said the time had come for estate agents, letting agents and sale agents to finally come under statutory regulation and weed out bad practice which evidently still exists. He says: “On a day when over 50 estate agency firms were fined a huge amount of money for breaching anti-money laundering rules it would seem to me that the only effective regulator in this market appears to be HMRC. “There should be a proper regulator of estate agent and letting agents and selling agents so that there is a proper set of rules that exists that monitors and enforces.” CONSUMER CREDIT Pressed on how this could be achieved Sinclair points to how consumer credit was finally regulated. The AMI boss told The Neg: “If you go back to where we were 15 years ago, unsecured credit was looked after by the now defunct OFT. The consumer credit act was meant to be policed by local trading standards. But what happened was…
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Latest property news
Propertymark beefs up compliance as HMRC ‘shames’ 68 agents
Propertymark has opened compliance cases against five member businesses who have failed to comply with anti-money laundering regulations.
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Latest property news
Covid strikes again as conveyancing law firm hits buffers
Covid continues to count its conveyancing scalps with another law firm hitting the buffers after it couldn’t keep up to complete cases. Now hundreds of jobs could be at risk after HMRC issued a winding-up petition against Linder Myers Solicitors. The 100-year-old firm has offices in Manchester, Chester, Lytham, York and Shrewsbury, and is one of 14 legal brands operated by Metamorph Group. WINDING-UP Three of those brands – Linder Myers, Gosport-based Donnelly and Elliott Solicitors, and SLC Solicitors in Telford – form MLL Ltd, which has been issued with a winding-up petition. The Neg contacted Linder Myers for comment. Previously, a spokesperson for the group had told TheBusinessDesk.com that it was ‘working hard in collaboration with HMRC to resolve any outstanding matters’. A search on Companies House confirms that accounts for MLL are currently four months overdue. ACCOUNTS Its most recent accounts filed report a £2.1 million loss for the 18 months to June 2020. However a note on the account shows this was partly due to a restructure that saw the amalgamation of businesses Donnelly and Elliot Solicitors, SLC Solicitors and Linder Myers Solicitors. During that period the company employed more than 300 people and had assets of…
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Latest property news
Anti-money laundering failure could cost agents dear, warns Propertymark
Failure to keep up to date with anti-money laundering rules could hit agents in the pocket as Government looks at second economic crime Bill
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Latest property news
Number of agencies using price bidding platform gathers pace
Philip Farrell's proptech platform Offr is digitising the buying, selling and leasing process for estate agents and buyers.
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Latest property news
Estate agents in the money laundering firing line
Estate agents are in the trenches on the front line in the war against money laundering
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