HMRC have recently confirmed that best practice involves checking the ID of both sellers & buyers and taking the same approach with lettings despite lettings not being covered by the 2007 Money Laundering Regulations.
The Regulations are due for revising in 2017. This course will help you comply now and get ahead of the game for the future.
Unlike the, now repealed, Property Misdescriptions Act, Consumer Protection Regulations 2008 apply to both sales and lettings. They are also much wider reaching and more challenging to comply with.
STOP PRESS
From April 2016 there are new regulations regarding the control of companies that everyone in the property industry should take note of and action. There will be a mandatory requirement for Limited Companies and LLPs to produce a PSC (person with significant control) register. This will affect all UK registered businesses . It will also impact, hopefully positively, on verifying ID where companies are involved in a transaction.
This updated programme will cover this new legislation.
THE PROGRAMME
Consumer Protection Regulations and Money Laundering Regulations are two of the most important sets of regulations that apply to the sales and lettings industry.
The demise of the Property Misdescriptions Act left Consumer Protection Regulations, with their far wider reaching mandate, as the legislation under which the industry has to operate.
Trading Standards have recently issued new guidance for agents which indicates their concerns and the need to comply.
The cost in terms of redress and loss of goodwill by failing to comply is something that no sales or letting agent should put themselves at risk of.
Money laundering is a huge issue and was highlighted recently in a Channel 4 TV exposure of London agents (From Russia with cash).
Money Laundering Regulations place six key requirements on agents in order to be compliant.
One of the six mandatory requirements is to ensure that all staff are trained and aware of their responsibilities.
Huge fines have been levied against agents for non compliance.
HMRC indicated in a webinar aimed at estate agents in January 2016 that checking the ID of buyers and not ignoring money laundering in regards lettings business were areas agents needed to include in their "customer due diligence" and "know your customer" processes. It is likely that these will be included in updated regulations scheduled for 2017.
This programme will highlight the potential issues and offer practical solutions and tips to help you operate both commercially and compliantly.
DATE & TIME
Hammersmith - Tuesday 1st March 2016
Time: 9.45am-12.15pm
LOCATION
Hammersmith
Holiday Inn Express
124 King Street
Hammersmith
London W6 0QU
Less than five minutes walk from Hammersmith Underground Station (Piccadilly, Hammersmith & City and District lines)
COURSE FEE & BOOKING ARRANGEMENTS
Just £65 plus VAT (£78) per delegate.
A discount to £60 plus VAT (£72) per delegate for 2 delegates from the same business, booking at the same time or £55 plus VAT (£66) per delegate for 3+ delegates from the same business, booking at the same time, will apply.
Email: enquiries@integra-ps.com
To confirm your booking (please provide name(s) of delegates, contact details and the location and date of programme to be attended) and we will issue a VAT invoice for payment. See terms and conditions below.
TERMS & CONDITIONS
All applications will receive a confirmation letter, map and a VAT invoice (or receipt if applicable). The person booking is responsible for supplying the correct contact information.
Email confirmation will usually take place within 24 hours of making the booking. If the person booking receives no confirmation email, they are responsible for contacting Integra Property Services to request an alternate copy.
Substitute delegates may attend at no additional cost. Refunds in respect of cancellations can only be made if cancellations are received in writing at least twenty one days before the event, and will be subject to a 50% administrative charge. Cancellations received after this period will be charged 100% of the course fee. Please note that non attendance (without prior notification) is subject to a 100% cancellation fee.
Integra Property Services reserve the right to alter the venue, the programme and/or the speakers at any time and without prior notice, and also reserve the right to cancel an event, in which case all fees will be refunded.
All fees should be paid prior to the event. Invoices raised within 30 days of the event, or less, become payable within 5 days after the date of invoice.
Integra Property Services reserve the right to charge interest on any outstanding debts at 3% above Nat West base rate per month or part thereof
Integra Property Services have been providing business mentoring, consultancy, project management, sales, management and compliance training, copywriting, marketing and social media services to the property industry since 2003.
The business is led by Michael Day, a Fellow of the Royal Institution of Chartered Surveyors, National Association of Estate Agents and Association of Residential Letting Agents. Michael also holds an MBA from Reading University and is a well known industry figure and a key influencer in the residential property sector.
December 2023 saw Michael celebrate the completion of 48 years in the residential property industry (he says he started when he was three!), including having been a Partner and Director in some of the UK’s most successful property businesses. In addition, he has held senior posts within the industry’s professional bodies.
Michael is a regular contributor to the trade press and a well-known and experienced speaker at industry seminars, webinars, podcasts and conferences.
He is an accredited trainer for Propertymark, running regular compliance training courses and speaking at regional and national conference and a regular contributor on compliance and other matters in Property Industry Eye (his articles can be viewed here:)
He is often asked to be a judge for various industry awards and is, or has recently been, a judge for the Negotiator Awards, LFS and Inside Conveyancing Conveyancing Awards, IBP Journalism Awards, the Property4Media Property Press Awards and the Propertymark Qualification Awards.
In June 2020 Michael became a Founder Member for Agents Together, a charitable foundation based on helping the property industry with Healthy Minds and Healthy Business.
In February 2024 Michael was invited, and accepted an invitation, to become a Director and Trustee of The Propertymark Trust, the charitable arm of Propertymark.
Michael was also a Director and shareholder at leading property technology business teclet - until its sale to OnTheMarket. He remains part of the senior team at OnTheMarket Software
He was an Advisory Board member at blockchain property technology business Coadjute and remains an external adviser
He is also Chair of the Members Group at the QED Academy Trust which is responsible for four academies in the London Borough of Hillingdon
Testament to the success of Michael's approach can be seen by the number of property shortlists and awards that have been achieved.
In 2006, 2008 and 2012, Integra won ESTAS awards. These prestigious awards are based entirely on feedback from clients and customers.
In 2013 Integra won the #SmartSocial Award on Twitter for innovative use of social media.
Between 2013 and 2021 Integra were shortlisted finalists in the Supplier of the Year (Services and Professional Support) categories at the national Negotiator Magazine awards, winning Bronze in 2021.
In every year 2018 - 2024, Integra have been rated Exceptional in the Estate Agency Supplier of the Year Guide., winning overall Bronze in the small suppllier category in 2018, 2019 and 2023. Like the ESTAS this recognition was entirely based upon ratings provided by clients of industry suppliers.
Michael's outstanding contribution to the property industry was recognised with the Lifetime Achievement Award at the 2023 Negotiator Awards
Integra now boast an impressive list of over 1400 clients including major estate agency groups, independent estate agency businesses, law firms, new homes developers, professional bodies, charities, training organisations, marketing and proptech companies.
Download an article by Michael Day that appeared in Property Drum magazine on entering and winning awards.
Hundreds of businesses have been kind enough to provide feedback and testimonials detailing their experiences of working with Integra and these can be found in the Testimonial section of this website.
Integrity is at the heart of everything we do. We have nothing to fear because we have nothing to hide.
Contact us and we shall be pleased to discuss how we can help you.