👀 HMRC ARE WATCHING 👀 🚨If you are any type of agent operating without AML registration, you are literally risking your business's life...! Does anyone's else heart sink when they get a brown envelope in the post?✉️😔 At a time of year when loads of directors up and down the country and panic-completing their SAs (I've heard accountants call next week, 'Hell Week' before!) we received an altogether different letter from HMRC this week. Had we been operating and sourcing without AML registration? ⚠️ The penalties for doing so are severe ⚠️ Enough to cripple any new sourcing business Thankfully, as members of NAPSA (National Association of Professional Sourcing Agents) we had all the bases covered, have the right SIC codes in place and could prove we NEVER operated as 'portfolio builders' prior to registering for AML supervision. We had email confirmation today - investigation closed. 😊 If you're an agent - estate or sourcing: ➡️ Make sure you have the right SIC code for your business ➡️ Make sure your registered for AML before doing any business. ➡️ Join an Ombudsman and Redress Scheme ➡️ Get the training, contracts, and support you (will!) need from joining and being a member of the official sourcing agents association - NAPSA If not... live in fear of a brown envelope. ✉️ Join Derbyshire and Yorkshire's most exclusive property club. We SOURCE 🎯 We SUPPORT🤝 We MANAGE 🏡 We CONNECT ❤️ DM the word VIP #btl #propertyinvesting #propertyinvestor #propertysourcing #complaince #investment #property

Posted by James Lovell-Smith at 2025-01-24 18:19:55 UTC