Letting Agent

Letting Agent

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Hi all

Can anyone advise if a letting agent were to transfer to a LTD co, would an audit be required as they (or rather Deposit Scotland) hold tenant's deposits?  I know it's not quite the same as client monies but thought I better check.

Thanks

Replies (2)

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By johngroganjga
27th Oct 2015 14:51

The holding of client money, or not, is not one of the criteria affecting audit exemption.

If the client is for example a member of ARLA they will be aware of the reporting requirement under their rules, which will apply without change if the business is incorporated. 

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By BMary83
27th Oct 2015 16:28

Thank you. Just wanted to ensure there was nothing to stop me from taking them on as a client as I do not hold an auditing certificate.

As always your response is much appreciated.

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