Subscribe to trusted local news
In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right.
- Subscription costs less than £1 a week with an annual plan.
Already a subscriber? Log in here.
26
Jun
Harrogate firm fined £18,200 by HMRC
A Harrogate property company has been fined a five-figure sum by HMRC.
Pantera Property Ltd, which is based on North Park Road, was handed a penalty of £18,200 for “failure to apply for registration at the required time”, which is a breach of money laundering regulations.
Pantera is one of nearly 200 lettings and estate agents across the UK to have been issued with penalties totalling over £1m, according to a HMRC list published today.
In addition, penalties to the value of £536,416 have been awarded against 91 account service providers.
Paul Snook, non-executive chairman at Pantera, told the Stray Ferret:
Every year, we have to pay a £300 registration fee, but on this occasion we failed to do so. It was an oversight.
The fine was originally £25,000, but we negotiated it down. We could have appealed, but – rather like appealing a parking fine – we were advised it just wouldn’t be worth the trouble.
It’s ridiculous that a small business has to pay such a large penalty simply for missing a fee. We’re a very professional company that meets all its obligations and pays all its bills.
If HMRC would allow us to pay by direct debit or standing order, it wouldn’t have happened at all.
Twelve money service businesses have also been fined. These included a City of London-based company called Dahabshiil, which was handed a penalty of £999,682 – the highest this year. This was for failures in carrying out risk assessments, having the correct policies, controls and procedures, conducting due diligence, and failing in the provision of registration information.
Pantera Property is a family-run, independent property consultancy and surveying practice with teams based in Harrogate and London.
A sister company, Pantera Asset Management, was founded in 2024 to support property professionals across the distressed and unoccupied building sector.
0