ECSH43550 - Registration exemptions by sector: letting agency businesses
A business does not need to register as a lettings agency business (LAB) for anti-money laundering supervision if:
They are a lettings agent only carrying out lettings work that is not defined within the regulations, for example, short lets for a period shorter than one calendar month in total and/or lets which have a value of less than 10,000 euros (or its currency equivalent).
If you encounter a case where a business has registered in good faith but it does not fall within scope of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) due to there being no lettings activity over 10,000 euros per month, or the lets are for a period of less than one calendar month, you should advise the business that they are out of scope and the business should withdraw the application through its government gateway account.
(This content has been withheld because of exemptions in the Freedom of Information Act 2000)