Sourcing Compliance: Redress, AML, Client Money and PI

The registrations that are legally required, and criminal to skip

The moment you accept a fee for introducing a property to a buyer, you are running a regulated business, and some of the registrations that follow are criminal to skip. This book sets out that finite list in plain English, in the order a careful person would work through it. It starts with the single fact that governs everything else, then covers the registrations and protections to put in place, including redress, anti-money-laundering supervision, client money and professional indemnity insurance. You will see what your client contracts must contain and what your legal duties look like in a business with no gas certificates or fire doors. The tax chapter explains why sourcing income is trading income rather than property investment income and how that shapes your structure. It ends with a single ordered compliance checklist and an honest account of what getting it wrong costs. Next in this series: “The Sourcing Business”.

What’s inside

• The legal framework in plain English
• Permissions, licensing and planning
• The contracts, and what must be inside them
• Insurance, safety and your legal duties
• Tax treatment and choosing a structure
• Your compliance checklist
• Getting this wrong: what it actually costs

Educational material only, not financial, legal or tax advice. Results are not typical and are not a guarantee of income. Freedom Property Academy LTD, registered in England and Wales.