Anti-money laundering threshold rises

On 30 June 2026 the Money Laundering and Terrorist Financing (Amendment) Regulations 2026 came into force. This legislation changes the threshold at which letting agents need to register with HMRC for anti-money laundering (AML) supervision from 10,000 euros to £10,000 i.e. a change of currency which, due to exchange rates, means the threshold is higher. Letting agents who handle transactions where the monthly rent is £10,000 or more are required to register with HMRC for AML supervision and carry out a number of tasks to reduce the risk of money laundering taking place.

This AML requirement is different from the sanctions duties which came into force for all letting agents in May last year. Sanctions duties apply to all letting agents regardless of monthly rental values, and require agents to check that prospective landlords and prospective tenants are not subject to UK financial sanctions.

For further guidance on both of these duties see SAL’s factsheet on ID checks and referencing.