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deposits
Tenancy Deposits

Hythe man
Hythe man
155 Thanks
644 Posts
1 year ago
0

I charge a deposits, protected by TDS, but I hold the money in a separate bank account which I understood was the correct way to do it. Now the banking laws have changed and my bank says I have to close this account and open a separate account for each of the clients. I cannot believe this is correct as it means opening 30 accounts, and with turnover would mean opening and closing accounts several times a year plus the administration. Any advice gratefully received.

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