AML – CDD on property Transactions
The accountancy sector quite regularly account for the treatment of rental income from second homes or holiday lettings or advise on the capital gains tax on disposal of such a property.
This article may be of importance to the accountancy and tax sector because on 1 April 2014 HMRC take over the supervision of the estate agent sector from the OFT, this experience gained from the OFT staff will be brought across into HMRC and the supervision of the accountancy service providers.