
Estate agencies across the UK are learning a costly lesson: staying behind on anti-money laundering (AML) compliance is no longer a minor oversight.
HMRC has recently published the latest list of businesses, including several estate agencies and property firms, that have failed to comply with the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. This list details penalties issued between October 2024 and March 2025, with fines ranging from a few thousand pounds to tens of thousands for breaches such as failing to register at the required time and failing to notify HMRC of material changes. The full list can be viewed on HMRC’s official list of non-compliant businesses.
Penalties add up and so do the risks
The published list highlights the financial repercussions of non-compliance. Firms such as Axis Property Consultancy LLP and David Andrew Estates Ltd have been fined for missed registration deadlines, while others faced penalties for lapses in internal controls or reporting obligations.
These fines are widespread, not limited to a small number of exceptional cases. HMRC’s supervision regime is actively naming and fining businesses that fall short of their legal obligations. Enforcement of AML requirements has intensified in recent years, making clear that compliance must be robust and ongoing. HMRC first began naming firms that did not comply in 2022, with hundreds of estate and letting agents fined, totalling hundreds of thousands of pounds.
Why AML rules matter now
The Money Laundering Regulations 2017 require firms in specified sectors, including estate agents, to register with HMRC for AML supervision, carry out risk assessments, conduct customer due diligence, and maintain appropriate policies and procedures. These measures are designed to prevent criminals from using property transactions to “wash” illicit funds by concealing their source or ownership.
By publicly naming non-compliant businesses, HMRC reinforces that AML oversight is not optional. Agency owners that once treated compliance as a low-priority task now face financial penalties, reputational risk, and operational pressure to update their frameworks.
The hidden costs of falling behind
For many firms, fines are only the beginning. Agencies named by HMRC are likely investing in policy updates, staff training, and external compliance support to meet regulatory standards often at a cost higher than the penalties themselves.
Reputational impact is also significant. In a competitive market, clients and partners increasingly expect transparency and strong governance, making AML compliance a key part of business credibility.

Lori Thompson, founder of EA Compliance Limited, says:
HMRC's enforcement list shows how many estate agencies fail at the very first hurdle. Too many agents put off the basic tasks needed to meet registering requirements, yet the cost of engaging a compliance specialist is usually just a fraction of the fines, reputational damage, and operational headaches if basic failures are identified.
Expert guidance
With enforcement intensifying and regulatory expectations evolving, estate agencies would be wise to get ahead of their compliance obligations. Industry experts suggest firms should:
- Engage AML compliance specialists for tailored advice
- Use third-party service providers for ongoing monitoring and reporting
- Regularly review internal policies and documentation
- Train staff on customer due diligence, risk assessment, and reporting responsibilities
Being proactive not only helps avoid fines but also protects the business from being inadvertently involved in financial crime.
What this means for estate agencies
The latest HMRC list of estate agencies named for non-compliance sends a clear message: failing to meet statutory obligations is expensive, disruptive, and publicly visible. In a regulatory environment where enforcement is now standard, staying up to date is essential, and guidance from compliance experts can help agencies meet obligations effectively.
For details on businesses named for AML non-compliance, see HMRC’s official list of non-compliant businesses and the full article on Property Industry Eye.
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