[2016] UKFTT 0720 (TC)

Judge Richard Thomas

Decision released 24 October 2016

Money laundering regulations – Penalty for failure to register before starting to carry on business – Whether penalty validly imposed – Yes – Whether penalty prompted or unprompted – Held unprompted – Penalty reduced – Money Laundering Regulations 2007 (SI 2007/2157), reg. 42.

  The First-tier Tribunal (FTT) found that an estate agent had correctly been charged a penalty for failing to register with HMRC under Money Laundering Regulations, but the penalty should be reduced because the registration was unprompted.


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