Financial sanctions guidance for landlords and tenants.
Financial sanctions help the UK meet its foreign policy and national security aims, as well as protect the integrity of its financial system. Financial sanctions include restrictions on designated persons, such as freezing financial assets, as well as wider restrictions on investment and financial services.
UK financial sanctions apply to all persons within the territory and territorial sea of the UK and to all UK persons, wherever they are in the world.
Certain types of business are subject to reporting obligations as “relevant firms” under financial sanctions regulations.
From 14 May 2025, letting agents will be subject to these reporting obligations as they will be added to the list of “relevant firms” under financial sanctions regulations.
Letting agency work means work consisting of things done in response to “instructions” received from either a prospective landlord or prospective tenant seeking to find someone to whom to let land or seeking to find land to rent.
The definition of “letting agency work” also specifies that letting agency work does not include certain listed things, if a firm or sole practitioner (or employees of the same) do not do anything else within the definition of “letting agency work”.
