THE COMPLIANCY DEBATE - Big fines for non-compliant sourcing businesses A recent article has highlighted the importance of having the correct compliance for sourcing properties There are many online "educators" out there that don't teach the correct levels of compliancy needed to set up a sourcing business; some even actively state that you don't need anything 😲 Between April and September 2023, 35 UK property sourcing businesses were hit with fines from HMRC ranging from £1450 to £23,500 for failing to register for Anti-Money Laundering supervision within the required timeframe. Some of the agents that were fined were registered under unclear SIC codes or operated as sole traders yet they were still found by HMRC. Proof that it is best to just set your business up correctly form the first instance. What are your views on compliancy within property sourcing? The link to the article is here: https://lnkd.in/dXqyk_Ne #compliancy #portfoliobuilder #propertysourcing #propertyinvesting
Islo Property Ltd
Real Estate
Helping to connect developers and investors with their next investments
About us
We are a portfolio building company based in South East England If you want to work with us to find your first or next investment property, just send a message and we can arrange a strategy call
- Industry
- Real Estate
- Company size
- 1 employee
- Headquarters
- South East England
- Type
- Privately Held
- Founded
- 2024
Locations
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Primary
Get directions
South East England, GB
Employees at Islo Property Ltd
Updates
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As mentioned previously, there's never a bad time to network 🤝🏻 #yournetworkisyournetworth
Portfolio Builder 🏠 Connecting property investors with their first or next investments 💷 In Sussex
Off to another local networking event with a great bunch of people in the works of property 🏠 and a nice spot of breakfast too 🍳 #networking #portfoliobuilder #propertyinvesting
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Never a bad time to be networking
Portfolio Builder 🏠 Connecting property investors with their first or next investments 💷 In Sussex
A cheeky little online networking with a great local group Ben Longley Lionel D'Souza alec Williams #networking #propertyinvesting #potfoliobuilding #investinsussex
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A great day if learning, networking and if course fun
Portfolio Builder 🏠 Connecting property investors with their first or next investments 💷 In Sussex
Yesterday was an amazing day of learning and networking with the mentor group. It was a pleasure to meet everyone face to face that I had only seen from a screen 🤝🏻 Every speaker was great and insightful 💭 Followed by graveyard and vaults tour 👻 Thank you Danielle Bell Lyndsey Lee Sally Beard Jamie Brookes Paul Kennedy #propertyinvesting #portfoliobuilding #propertysourcing #learning #networking
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Portfolio Builder 🏠 Connecting property investors with their first or next investments 💷 In Sussex
In Edinburgh for my first Danielle Bell mentor group meetup. Some excellent company and great speakers #mentor #propertyinvesting #propertysourcing #learning #networking
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Portfolio Builder 🏠 Connecting property investors with their first or next investments 💷 In Sussex
There isn't a bad time to learn 💭 I've been on a webinar tonight that isn't really aimed at me, as a portfolio builder, but if I can help my investors and even the vendors to save tax within a deal that's got to be good right? 🤔 #propertyinvesting #propertysourcing #learningiskey #knowledge
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Portfolio Builder 🏠 Connecting property investors with their first or next investments 💷 In Sussex
Today I'm calling around the local, independent estate agents. 📞 There is no need to waste time creating and sending out those dreaded DTV letters, when a partnership with an EA can bring you great quality deals. I get access to properties before they hit the market, they still get paid their commission, everyone's a winner! 🤑 Do you believe in DTV letters? I'd love to read any opinions #propertysourcer #offmarketproperties #directtovendor
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Who you know is just as important (sometimes more) than what you know
Portfolio Builder 🏠 Connecting property investors with their first or next investments 💷 In Sussex
Off to a local networking morning today. You can never have too many contacts and links in this world #networking #yournetowrkisyournetworth #property
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Reverting back to my previous post about the importance of compliancy as a property sourcer... WE ARE NOW FULLY INSURED AND COMPLIANT! The final piece, anti-money laundering, was approved today after having to complete a training course and create a risk-based policy to complete the process Staying the correct side of compliancy is deeply important to the way that we run as a business, not only to protect ourselves but also anybody that we form a business relationship with Any property sourcer taking their business seriously should be more than happy to prove that they are complaint when asked by an investor, or somebody wishing to sell their property through you. If they try to avoid it, you should also avoid them #compliance #propertysourcing #propertyinvestment #isloproperty
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