Milestone 3 of 6 Start a lettings agency

Register for money laundering supervision

Needed before you let any property at a rent of 10,000 euros or more a month.

If you arrange lets where the rent is 10,000 euros or more a month and the let is for a month or longer, your business is a letting agency business under the money laundering regulations. This covers residential and commercial lets. Register with HMRC before you do this work: choose estate agency businesses, then letting agency business activity as the subsector. You pay a one-off £300 registration fee and £400 for each premises, and the premises fee is due each year.